Student Accommodation Development Refinance

Schools-Finance successfully arranged a £70 million senior funding facility to support the completion of a 439-bed purpose-built student accommodation development in the North East.

The project was already under construction when Schools-Finance became involved. A combination of construction delays and changes affecting overseas off-plan purchasers created funding pressures that threatened the continued progress of the scheme. As a result, the development required an urgent refinancing solution to replace existing debt and provide the funding necessary to complete the remaining build programme.

Working closely with lenders and stakeholders, Schools-Finance secured a facility that delivered both the refinance of existing borrowing and the additional funding required to complete construction. The funding package also accommodated changes to the development, including additional student accommodation units that had been incorporated into the project after construction had commenced.

The successful transaction ensured that construction could continue without disruption, allowing the development to progress towards completion. Once finished, the scheme will provide 439 high-quality student accommodation units in a location with strong demand from the higher education sector.

This case demonstrates Schools-Finance’s ability to arrange complex funding solutions for large-scale student accommodation projects, helping developers navigate funding challenges and bring major education-sector developments to completion.