Vita Group has secured a £68.7m green loan from LaSalle Investment Management to finance the delivery of Vita Student Gough Street – a new 540-bedroom PBSA scheme in central Birmingham.
Planning permission for the PBSA scheme was secured and construction work, led by MRP, commenced in 2023, with completion set for August 2026.
The 105,000 sq ft Gough Street scheme will comprise two tower blocks of ten and 29 stories respectively. Amenities including private dining rooms, a vibrant hub space for socialising and studying, a state-of-the-art gym, an outdoor basketball court, outdoor terraces and shared cycle storage.
The building is designed to be highly sustainable, targeting BREEAM Excellent certification, with LaSalle’s green loan structured under the Loan Market Association’s green loan framework.
“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-amenitised 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.”
David White, Head of Real Estate Debt Strategies, LaSalle
Located on Gough Street in Birmingham city centre, the asset will benefit from excellent rail, bus and tram links. The scheme will help address the undersupply of specialist accommodation in the UK’s second-largest student market, with five universities and around 80,000 students based in the Birmingham Metropolitan Area.
“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.”
Max Bielby, Chief Operating Officer, Vita Group
