Atelier provides loan for new Nottingham PBSA site

Atelier has provided the financing for the acquisition of a 210-studio student accommodation site in Nottingham.

CGI of the new scheme in Nottingham that Atelier has provided a loan for | PBSA News
CGI of the new scheme in Nottingham that Atelier has provided a loan for.

Specialist development finance lender Atelier has announced that a £3.1m loan has been provided to facilitate the acquisition of a new purpose-built student accommodation (PBSA) development just north of Nottingham city centre.

Atelier’s loan included a VAT tranche to assist the borrower in covering VAT costs associated with the purchase price, as some land titles were opted to tax.

The new PBSA scheme has consent for 210 student studios complete with amenities and welfare spaces. The developer also has a strong standing in Nottingham’s student accommodation market, giving it a firm understanding of both local and student needs.

Concept image of the scheme's courtyard Nottingham | Atelier | PBSA News
Concept image of the scheme’s courtyard.

“This loan required creative structuring to meet the purchase requirements whilst working to a tight deadline. We were delighted to support a repeat customer with a track record of securing opportunistic site purchases in Nottingham and throughout the country.”

Raj Hothi, Senior Investment Manager, Atelier

As a key student city with two popular universities, Nottingham has a combined student population of 70,000 (according to BNP Paribas Real Estate) with accommodation in prime locations high in demand.