Students to Face Even Higher Interest Rate Charges After RPI Increase
20th Apr 2018
Yorkshire Bank has entered into an agreement to fund the development of new student accommodation in Leeds.
The bank is teaming up with Crosslane Property Group and venture partner Harrison Street Real Estate to work on delivering a new scheme in Leeds.
Commenting on the arrangement, Alex Garland, Real Estate Finance Senior Director at Yorkshire Bank, said: "Leeds is home to Yorkshire Bank's head office, we are invested in the success of this city and we are delighted to have closed this debt financing with the Crosslane and Harrison Street teams.
"Sycamore House is a well-located development, managed by an experienced team and is purpose built to fulfil student demand."
"Leeds is a thriving university city and if you combine this project with all the regeneration work going on in the area, it's an attractive place to come and study."
The development is due to open in September 2018 and has been estimated at around £15 million upon completion.
The scheme will feature 117 en-suite studio apartments across five stories and will feature a private courtyard, indoor gym, entertainment suite, and study rooms.
Once delivered, the student accommodation will be managed by Prime Student Living on behalf of Crosslane Property Group.
20th Apr 2018
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