Oblix Living has secured funding of £15.3m from United Trust Bank (UTB) for a BTR scheme in central Leicester.
Oblix, which develops mid-sized BTR schemes in urban areas where there is demand for well serviced rental accommodation, acquired Saxon House in Leicester in 2022 with plans to convert the 89,000 sq ft former HMRC office building into ‘The Saxons’.
The BTR scheme, which has an estimated GDV of £24m, will offer 100, one- and two-bedroom apartments with a gym, workspace and residents lounge.
Rishi Passi (pictured), CEO of Oblix Living, said: “We’re pleased to be working with UTB again to deliver another high quality build to rent development to meet the growing demand from young professionals for professionally managed, well designed, amentised buildings throughout the UK.
“The team at UTB have been a pleasure to work with. Their responsiveness and willingness to go above and beyond have been invaluable in ensuring that we have the financial resources needed to conitue our growth trajectory.”
Hardeep Thandi, director – property development, at United Trust Bank added: “The build to rent sector is booming and we are delighted to be supporting another exciting scheme by Oblix Living which will bring much needed high specification rental accommodation to one of the UK’s fastest growing cities.”
