Investec has provided £41.5m to finance two student accommodation buildings in Southampton…
The developments, which will be developed by Knightsbridge Student Housing Ltd, have already been granted planning permission and will have a total of 823 rooms.
The two sites have a gross value of £59.7m.
Mark Bladon at Investec Structured Property Finance said: “The number of investors looking to gain exposure to student accommodation continues to grow with several high profile transactions announced already this year.”
“Knightsbridge is one of the best student housing operators and developers and we are extremely pleased to announce our seventh funding package to assist the company’s development of 800 beds in Southampton.
“Investec has already provided financing to the Company for the development of 1,700 beds in university cities across the UK, which are due for practical completion in August 2015.”
To be located close to the city centre, the accommodation will offer good access to Southampton University and Southampton Solent.
It is expected the developments will be finished by the summer of 2016 in time for the new academic year.
Bob Crompton, CEO of Knightsbridge Student Housing, added: “We’re thrilled to be working with Investec SPF again, bringing higher quality accommodation to students in the thriving city of Southampton.”
“Both sites have great access to the universities and we believe.
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