Barwood has secured a £19.25m senior development loan from Investec Bank to finance the development and stabilisation of a 233-bed purpose-built student accommodation (PBSA) scheme in Edgbaston, Birmingham.
The 36-month facility supports Barwood in delivering a village-style student campus on the former St Chad’s Hospital site, which was originally constructed in 1808. The scheme will retain and refurbish two Grade II listed buildings, alongside the construction of three new buildings.
The loan has been structured to provide flexibility around the accelerated construction and delivery programme, supporting Barwood through the development phase and into stabilisation.
Alice Harman, from Investec Real Estate, said: “This transaction demonstrates our ability to support new clients with flexible, development-focused funding solutions, even where delivery timelines are compressed. By structuring a bespoke facility, we have helped Barwood progress a complex PBSA scheme that combines heritage refurbishment with new-build development, delivering much-needed student accommodation in a highly sought-after location. It has been a pleasure to work with the Barwood team on this facility.”
Ed Henson, director and head of transactions at Barwood, added: “We are delighted to have worked with Investec Real Estate on this exciting project. The Investec team took a refreshingly commercial outlook on the intricacies of this deal, which involved a complex development programme, including elements of new build and conversion, within a corporate structure that included external funding partners and development managers.”
