Investec Bank has provided a £26m senior debt facility to Moorfield Group to fund the development of a 204-bed purpose-built student accommodation (PBSA) scheme in Bristol.
The site is on Freestone Road in the Temple Meads Quarter and will have a mix of studios and cluster rooms, along with amenities such as a gym, communal lounge, games area, study spaces, laundry facilities and landscaped courtyards.
Moorfield is aiming for an energy performance certificate (EPC) A rating and BREEAM Excellent accreditation.
The scheme is opposite the University of Bristol’s upcoming Temple Quarter Enterprise Campus, which is due to open in 2026.
Tiger Developments will deliver the project, with Watkin Jones as main contractor.
Host Student, part of the same group as Tiger, will operate the site once completed.
Mike Russell, originator for corporate real estate finance at Investec, said: “This transaction highlights our continued appetite to fund best-in-class Living sector developments alongside proven sponsors, in markets with compelling demand-supply dynamics.
“It also extends our partnership with Moorfield, following our £15.6 million financing of a 293-bed PBSA scheme in Lincoln, which completed at the end of 2023, and our £18.97 million committed loan facility to fund the acquisition and development of a 282-bed PBSA scheme in Colchester, Essex.”
Chris Perera, head of origination at Moorfield Group, said: “This latest financing with Investec will help us deliver another high-quality PBSA asset, providing much-needed accommodation for Bristol’s growing student population.
“Investec’s deep understanding of the sector and flexible approach makes them a trusted long-term partner and we are pleased to continue building on our relationship through this flagship development.”
