UK: Aldermore has completed a multi-million-pound property development loan to College Street Northampton LLP for the delivery of a PBSA scheme in Northampton.
The five-storey ground-up development, which is located in the town centre, will feature 101 en-suite studio bedrooms, a gym, lounge, communal outdoor terraces, and bike storage.
Once complete, it will be operated under the Zone Luxury Student Accommodation brand. The main build contract has been awarded to Zone Developments.
Jonathan Driver, commercial real estate BDM at Aldermore, said: “We’re delighted to support College Street Northampton LLP with this PBSA project. There is a lack of high-quality student accommodation in the town, and this development will provide much-needed modern, well-located accommodation for students at the University of Northampton. At Aldermore, we’re committed to backing ambitious developers who are creating high-specification, sustainable living spaces, and we look forward to seeing this project come to life.”
Neil Thakkar of College Street Northampton LLP, said: “It’s fantastic to have Aldermore’s support as we look to expand our business in the Midlands and meet the demand for PBSA. For over a decade, we’ve been servicing students in Leicester, but we began to see a real need for PBSA developments in Northampton, and we knew we could help address this to provide high-quality accommodation for the local student population — and it’s been made possible with the help of Aldermore.”
Highlights:
• Aldermore has completed a multi-million-pound property development loan to College Street Northampton LLP for the delivery of a PBSA scheme in Northampton
• It will feature 101 en-suite studio bedrooms, a gym, lounge, communal outdoor terraces, and bike storage
• It will be operated under the Zone Luxury Student Accommodation brand
