The site has been developed to meet the growing demand for student accommodation, driven by the city’s two major universities

The project will provide a mix of accommodation across 9 houses in a suburban setting.

Valuations for the transaction were undertaken by CBRE, and legal due diligence was provided by Philip Lee LLP in Dublin and Trowers & Hamlins in London.

The funding facilitated the refinancing of multiple large-scale residential properties across Manchester and West London, unlocking equity for future investment

The deal marked the third time that STB Real Estate Finance and Merchant Land have worked together.

The deal covered a varied range of assets worth over £34m

The development is located on the outskirts of a major city and serves students from a nearby Russell Group university.

Aspen Bridging recently launched its 2025 rate card with reductions of up to 80bps for all new applications and a higher maximum loan size of £15m net.

The site has planning permission for a residential scheme comprising 74 apartments and parking.

Secured against a vacant nine-unit residential block, the facility will refinance the existing lender.