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Kexgill Secures Funding to Build Student Houses

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Kegill has secured an eight-figure investment to facilitate the development of new student accommodation at the University of Hull.

The company will use the £12.7m loan from OakNorth bank to acquire and refurbish 91 houses in accommodation for more than 400 students.

Kexgill already owns and operates student housing at the university and operates thousands of bed spaces around the country.

Managing Director of Kexgill, Richard Scott, said: "We are very proud of our partnership with the University of Hull."

"The additional 92 houses with the existing 100 houses purchased in the last two years, produces an iconic location, which has been branded the University Quarter (UQ)."

Hemesh Patel, property finance director at OakNorth, added: "The team at Kexgill have extensive experience of developing and letting student accommodation across the UK, but Hull is a region of particular significance to the company as this is where its journey began."

"Over the last four decades, they have continued to strengthen their relationships and expertise in the area and have clearly found a recipe for success given that their rooms are already pre-let."