QIP and JV partner secure $33.6 mil loan for two UK student accommodation projects

By
/ EdgeProp Singapore
|
July 19, 2021 6:37 PM SGT
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - Singapore-based private equity investment firm, Q Investment Partners (QIP), and its joint-venture partner UK property developer, HG Developments, have secured a £18 million ($33.6 million) loan for two purpose-built student accommodation projects (PBSA), in Edinburgh and Egham in the UK. The debt financing was raised from Secure Trust Bank Real Estate Finance, a UK retail bank. (See also: QIP launches GBP30 mil student accommodation fund)
The development in Edinburgh is at 65 London Road and comprises 76 beds in self-contained studios. It is in the Meadowbank suburb. This development is adjacent to another PBSA project by QIP. That 198-bed development at 61-63 London Road is expected to open in time for the 2021/2022 academic year.
The other new development is a 107-bed student accommodation in Egham that has been repurposed from a retail space. The site is in a prime location close to the Royal Holloway University of London and Egham station.
ADVERTISEMENT
The recently announced developments will be managed by Prestige Student Living, an arm of Homes for Students, a provider of student accommodation in the UK that manages over 30,000 beds.
The development projects form part of QIP’s £30 million student housing equity fund that was launched in 2020 to invest in PBSA projects in the UK.
QIP says that the UK’s PBSA sector is underpinned by strong demand. The market for student housing looks set to rebound and could exceed pre-Covid levels in the coming years, the firm adds.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter
Search Articles
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 4.6.22
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.