60 bed PBSA scheme underway in Bristol with £4m development finance facility
Shawbrook has supported a client with a loan facility worth £4m to fund a purpose built-student accommodation (PBSA) development in Bristol.
Shawbrook has supported a client with a loan facility worth £4m to fund a purpose built-student accommodation (PBSA) development in Bristol.
The 60 bed scheme is made up of a former council building which has since been demolished, and will be made up of twelve studio flats, and eight, six bed ensuite cluster flats. The building will also have dedicated ground floor commercial spaces, as well as gym facilities, communal areas, cycle storage and laundry facilities for students.
Our team was able to tailor a £4m, 21 month facility for the project. The client has over 25 years’ experience in the construction industry, and has delivered multiple residential and PBSA schemes. This deal marks their first PBSA project with us.
Shawbrook was recommended by another property developer in Bristol and after speaking with Greg who understood our plan, he was able to put together a bespoke package to support the PBSA project. We’re glad that we’re able to provide brand-new, much needed housing options for students.
Greg Pescott, Relationship Director at Shawbrook, added:
“We’re really pleased that we’ve been able to support Shaun and his team with this PBSA project, which will be a welcome addition for students of Bristol University who have struggled with a lack of accommodation options.
“We were able to provide a unique facility over a 21 month term, and we look forward to seeing the finished project, and supporting Shaun and his team with their future endeavors.”
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