The 16-month facility will support the permitted development of a former office building, with the completed scheme due to provide studios, cluster rooms and shared amenities.

The £8.4m redevelopment is scheduled for completion ahead of the 2027/28 academic year.

Affordability pressures are reshaping PBSA rental growth, despite continued investment activity and strong student concern about housing costs.

A £30m PBSA funding package will deliver 232 student beds in Durham, where planning rules limit new supply.

The King’s Cross student accommodation scheme includes a £5.7 million affordable housing payment and a 64 sq m community hall.

The scheme comprises 941 student beds, including 109 accessible rooms, across two blocks of 20 to 34 storeys.

The £5m development bridge represents 63% LTV against a current site value of £8m.

The project pairs the conversion and extension of a Grade II listed building with a new two-storey block.

The £22m transaction completed just three weeks after HTB issued offers, despite involving multiple property types, several parties and a co-lender.

The portfolio is already 98.2% let for the 2026/27 academic year across its five assets, spanning Liverpool, Newcastle, London and Cambridge.