Our Real Estate Finance (REF) team has successfully completed a £16.45m investment finance facility with Studious Investment Management, a company that specialises in student investment, development and advisory services. The facility is secured against New Century Place, a newly-opened residential and student accommodation scheme in the centre of Reading. In 2017, REF also provided Studious with an investment loan facility of around £20m against their newly built 362-bed scheme in Durham called Ernest Place.
Due to an excellent relationship built through the first transaction, we were given the opportunity to provide the loan against New Century Place, operated by Collegiate.
The scheme consists of 135 high quality, all-studio units and features extensive communal areas and amenities such as gym, cinema room, games room and private dining area.
Andy Scott, Head of REF (Midlands & South), commented: "New Century Place is another fantastic scheme delivered by Studious and its team and we are delighted to be part of it. Located in the heart of Reading, the building provides much needed professionally managed accommodation to help alleviate pressure on the local housing market, and the quality of the product has made NCP one of the best accommodation offerings in Reading."
Sevi Rixson, MD and owner of Studious, added: "We have built a good relationship with the team at STB and were once again impressed by their passion for our product and drive to deliver on a loan structure that worked well for us."
Secure Trust Bank Real Estate Finance provides finance to experienced developers for residential, commercial and mixed use schemes as well as to professional landlords seeking to acquire or refinance their investment properties and portfolios.