Shawbrook has supported Lower Ashley Road Developments with a loan facility worth £4m to fund a purpose-built student accommodation (PBSA) development in Bristol. This deal marks the company’s first PBSA project with Shawbrook.
A former council building has since been demolished to make way for the 60-bed scheme. The development will deliver twelve studio flats and eight six-bed ensuite cluster flats.
The building will also have dedicated ground floor commercial spaces, as well as gym facilities, communal areas, cycle storage and laundry facilities for students.
“Shawbrook was recommended by another property developer in Bristol and after speaking with Greg who understood our plan, he was able to put together a bespoke package to support the PBSA project.
“We’re glad that we’re able to provide brand-new, much needed housing options for students.”
Shaun Ellis, Managing Director, Lower Ashley Road Developments Ltd
Shawbrook’s team were able to tailor a £4m, 21 month facility for the project to Lower Ashley Road Developments. They have over 25 years’ experience in the construction industry, and have delivered multiple residential and PBSA schemes.
“We’re really pleased that we’ve been able to support Shaun and his team with this PBSA project, which will be a welcome addition for students of Bristol University who have struggled with a lack of accommodation options.
“We were able to provide a unique facility over a 21 month term, and we look forward to seeing the finished project, and supporting Shaun and his team with their future endeavors.”
Greg Pescott, Relationship Director, Shawbrook
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