UK: Vita Group has secured a £68.7 million green loan from LaSalle Investment Management to finance the delivery of Vita Student Gough Street, a 540-room PBSA scheme in central Birmingham.
Construction work, led by MRP, started in 2023, with completion set for August 2026.
The 105,000 square feet Gough Street scheme will comprise two tower blocks of 10 and 29 stories respectively. Amenities include private dining rooms, a hub space for socialising and studying, a gym, a basketball court, outdoor terraces and shared cycle storage.
The building is targeting BREEAM Excellent certification, with LaSalle’s green loan structured under the Loan Market Association’s green loan framework.
Max Bielby, chief operating officer at Vita Group, said: “We’re delighted to be working with trusted partner LaSalle to deliver this best-in-class student accommodation to the heart of Birmingham. The delivery of this building is well underway and will raise the standards of what students should and can expect from their accommodation experience in the city centre. We look forward to welcoming students from September 2026. This latest development loan completed by our Debt Investments platform maintains our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe.
David White, head of real estate debt strategies at LaSalle, said: “In Vita Group and MRP, we are working with two firms with best-in-class reputations for providing high-calibre, well-amenitised student accommodation and for successfully delivering large-scale PBSA schemes. Our investment in the Gough Street development provides our investors with exposure to a high-quality asset, supported by the strong fundamentals of Birmingham’s structurally undersupplied student market.”
