Case study: Atelier completes £5.38m development finance facility for Bristol PBSA scheme

The funding from Atelier will see a Grade II listed building converted into a purpose-built student accommodation scheme in the centre of Bristol.

Related topics:  Finance,  Case Study,  Student Accommodation
Property | Reporter
28th June 2024
Hanover House Bristol PBSA - 833

Specialist development finance lender Atelier has today announced it has completed a new finance facility for Rengen Developments.

The funding will enable the refurbishment and conversion of Hanover House – a Grade II office building in Bristol city centre - into a 26-bed PBSA scheme, including a flat and 25 self-contained studios.

The purpose-built scheme will provide much-needed student accommodation in the heart of Bristol, which is home to several leading universities and has one of the greatest shortages of student accommodation in the country. This project is scheduled for completion in time for the academic intake of September 2024.

Matt Measures, Senior Investment Manager at Atelier, commented: “We are delighted to be funding this conversion of a fantastic Grade II Listed building into purpose-built student accommodation in Bristol.

"This is the seventh scheme we have worked on with our client, Rengen and we are equally pleased to continue to support this well-established PBSA developer in the South West.”

 

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