Vita Group has secured a £68.7m green loan from LaSalle Investment Management to finance the delivery of a new 540-bed purpose-built student accommodation (PBSA) scheme in central Birmingham.
Located on Gough Street in Birmingham city centre, the 105,000 sq ft scheme will comprise two tower blocks of 10 and 29 storeys respectively.
The on-site amenity provision will include private dining rooms, a hub space for socialising and studying, a state-of-the-art gym, an outdoor basketball court, outdoor terraces and shared cycle storage.
Vita Group is targeting BREEAM Excellent for the scheme, which is being built by MRP with completion set for August 2026. LaSalle’s green loan was structured under the Loan Market Association’s green loan framework.
David White, head of LaSalle real estate debt strategies, said: “This latest development loan completed by our debt Investments platform maintains our strong pace of deployment, positioning our business as one of the most active real estate debt providers in Europe. In Vita Group and MRP, we are working with two firms with best-in-class reputations for providing high-calibre, well-amenitized student accommodation and for successfully delivering large-scale PBSA schemes.
“Our investment in the Gough Street development provides our investors with exposure to a high-quality asset, supported by the strong fundamentals of Birmingham’s structurally undersupplied student market.”
Max Bielby, chief operating officer of Vita Group, added: “We’re delighted to be working with trusted partner LaSalle to deliver this best-in-class student accommodation to the heart of Birmingham. The delivery of this building is well underway and will raise the standards of what students should and can expect from their accommodation experience in the city centre. We look forward to welcoming students from September 2026.”
