The latest deal builds upon the lender's strong track record in PBSA funding across the UK, with a growing portfolio of projects in key university cities.

The loan backs the joint venture between Valpre Capital and CKC Properties and will be used to acquire the landmark purpose-built student accommodation site.

Southern Grove is developing the 111-bed, £36m GDV scheme in a joint venture with Falco Group.

The deal was supported by solicitors Shepherd and Wedderburn, along with the assistance of Julie Percy, Relationship Support Specialist at STB.

The 60-bed scheme is made up of a former council building which has since been demolished.

Construction is expected to complete in Q3 2028 and will be one of the first PBSA developments in Canary Wharf.

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

Almost £575m was invested in the UK purpose-built student accommodation market during Q4 last year, taking annual investment to £3.87bn.

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

Alice Moore, Associate Director at Boyer explores the key challenges when securing planning permission for PBSAs