Exited
£24m facility to fund the development of a new build PBSA scheme in Belfast
Northern Ireland
LOCATION
Student accommodation
SECTOR
Development loan
LOAN TYPE
Overview
A £24 million acquisition and development facility for Vita Group’s purpose-built student accommodation (PBSA) project, a 269-studio scheme in Belfast city centre.
The development opened for incoming students for the 2023/24 academic year and is conveniently situated between the prestigious Queen’s University and the city centre, allowing it to best serve the needs of the city’s full-time student population of about 45,000.
Delivered to Vita Student’s high brand standards, the new site offers residents the very best student living experience, thanks to outstanding services including private dining and study rooms, state-of-the-art gyms, and a daily events roster promoting physical and mental wellbeing.
With a strong track record of funding student accommodation developments, this latest funding commitment takes Vita's total development of student bedrooms to over 2,000 across 10 student accommodation developments to date.
1Cushman & Wakefield, UK Student Accommodation Report 2022, p23.
Figures are subject to rounding.