Bridging

Bridge loan to acquire a 210 studio student accommodation site

£3.1m facility to assist with the acquisition of a purpose-built student accommodation site in Nottingham.

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We have provided a bridge loan for the acquisition of a site just north of Nottingham City Centre. The site has consent for 210 student bedrooms alongside welfare and amenity spaces including a landscaped courtyard.

The Loan included a VAT Tranche to assist our borrower in covering VAT costs associated with the purchase price as some land titles were opted to tax.

Nottingham has two popular universities and a student population of more than 70,000 students. The borrower has a deep understanding of the Nottingham student accommodation market, where they already have a strong footprint.

Gross Loan

£3.1m

Term

12 months

LTV

60%

Units Created

210

Exit Method

Sales

“This loan required creative structuring to meet the purchase requirements whilst working to a tight deadline and we were delighted to support a repeat customer, who has a track record of securing opportunistic site purchases in Nottingham and throughout the country.”

- Raj Hothi, Senior Investment Manager

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