Aldermore has provided a multi-million-pound loan to College Street Northampton LLP for a student accommodation scheme in Northampton.
The loan will fund a five-storey development of 101 studio bedrooms, with a gym, lounge, outdoor terraces, and secure bike storage for 104 bikes.
Each studio will include an ensuite shower room, private kitchen, and built-in furniture.
The site is in the town centre, close to the University of Northampton and local amenities.
The main contract has been given to Zone Developments, a specialist in student accommodation.
Jonathan Driver, commercial real estates business development manager 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, 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 purpose-built student accommodation.
“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.”
