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Student Tribe Provided £35m Loan for Bermondsey PBSA

Posted by Calum Martin in ,

Image courtesy of Flickr, (View licence)

Accommodation specialists Student Tribe has been granted a £35m loan facility from Investec Real Estate to fund a purpose-built student development in South Bermondsey.

The construction project will comprise of 250 beds, made up of a mixture of 137 private en-suite rooms, 88 affordable en-suite rooms and 25 studios. The scheme will also boast 122,500 sq ft of commercial space alongside collaborative workspace areas.

This will mark Student Tribe's first PBSA project from the ground up. Founded in 2020, the group are aiming to ease the shortage of good quality affordable accommodation for London's students.

Investec has worked with a number of borrowers over a number of years and the deal is Investec's first with Student Tribe.

A total over £850m has been committed to the PBSA sector by Investec since 2015, which has seen over 18,500 beds across 50 schemes financed.

Ian Burdett of Investec commented: "Student accommodation has been a strong sector for Investec in recent years and we remain bullish on its outlook, especially in London where this latest scheme is well located to benefit from the market's structural undersupply and continued demand from domestic and international students."

"It's particularly pleasing to be working with Tribe on their first PBSA scheme, we look forward to leveraging our deep sector expertise to support them with their debut student development project and hopefully working with them again in the future."

Managing director at Tribe, Laurence Quail, added: "We are delighted to be working with Investec on the delivery of this exciting new scheme, which we've carefully designed to best meet the needs of today's students for well located, high quality, good value for money accommodation. Tribe is actively growing with in excess of 1,000 further beds already in the pipeline across London."