Aldermore has provided a multi-million pound loan to Bathford Investments Limited, which provided funding to refinance and refurbish recently acquired first generation student and residential accommodation, located in the Southwest.
The properties will cater to the growing demand and need for quality housing in the student market, and are rated at Energy Performance Certificate (EPC) B+.
Bathford management team have over 20 years experience in the industry and the company’s principal directors, Richard Crawshay Jones and Neil Young, bring a combined 40 years of expertise.
Michael Graham, business development manager (BDM) for commercial real estate at Aldermore, said: “At Aldermore, we’re committed to supporting clients projects that meet the growing demand for high-quality student accommodation in prime locations across the UK.
“We’re thrilled to support Bathford on this exciting project which aligns with our purpose of backing experienced sector specialists, and we look forward to working with them on these and future opportunities that will enhance the student living experience.”
Richard Crawshay Jones, director of Bathford, said: “Michael and the team at Aldermore have been a pleasure to work with.
“In a demanding market they have a refreshing can do attitude. In addition, the funding is allowing us to fully refurbish the accommodation so the students can enjoy their homes and focus on student life.”
Steve Williams, director of Redgate Specialist Finance Limited, added: “When we were engaged by the Bathford team to secure the finance for this project, Aldermore Bank were one of the first lenders that came to mind.
“Their support for the Purpose Built Student Accomation (PBSA) market is well known and has been evident for many years.
“Given the timeframes involved, I was extremely comfortable in recommending Mick and his team and my faith was well founded as the deal ran smoothly from start to finish.”
