Paragon Bank has provided an £8m loan to Six Degrees, part of 9 Property Group, to support the refinance and development of a 100-bed purpose-built student accommodation (PBSA) scheme in Loughborough.
The funding went live in April 2025 and has refinanced the existing site, supporting the build of a new, high-spec complex in the town centre.
Construction started three months ago and is on target to welcome students in September 2026.
The development will deliver 100 en-suite bedrooms across 22 cluster flats.
The gross development value (GDV) is expected to be £12.2m.
This is the firm’s first deal with Paragon Bank, led by Karl Kent, relationship director at Paragon, with support from portfolio manager Shannon Altimas.
Taj Ubhi, founder and CEO of 9 Property Group, which owns Six Degrees, said: “We’re excited to be bringing forward another PBSA development in a location we know well.
“Paragon’s understanding of the sector and agile approach to funding has made them an ideal partner, and we’re looking forward to delivering this scheme ahead of the 2025 academic year.”
Karl Kent, relationship director at Paragon Bank, said: “We’re proud to support Six Degrees with this high-quality PBSA scheme in a town where demand for student accommodation continues to grow.
“Taj and the team have a strong track record in delivering similar projects and we’re confident this development will be a welcome addition to Loughborough’s student housing offering.
“It’s been a pleasure to work with Six Degrees on their first deal with Paragon and we look forward to supporting them on future projects.”
