Aldermore has provided a multi-million-pound property development loan to College Street Northampton LLP for the delivery of new purpose-built student accommodation (PBSA) in Northampton. Once complete, the scheme will be operated under the Zone Luxury Student Accommodation brand. The main build contract has been awarded to Zone Developments, a highly experienced PBSA contractor.
The development responds to the growing demand for high quality private PBSA in Northampton, where the University of Northampton’s expanding student population has outgrown supply - with 64% of students currently unable to access purpose-built accommodation.
The new five-storey ground-up development will feature 101 studio bedrooms, alongside a gym, lounge, communal outdoor terraces and secure bike storage for 104 bikes. All studios will feature ensuite shower rooms, private kitchens and built-in desk and storage furniture. The development benefits from a town centre location, within walking distance of the University of Northampton and close to local shops, restaurants and amenities.
College Street Northampton LLP is a family-run PBSA operator. Zone Developments has successfully delivered numerous PBSA schemes across the region, including the current 203-unit Drapery development in Northampton town centre which is fully let for the current academic year as well as being 100% let for the 25/26 academic year.
“We’re delighted to support College Street Northampton LLP with this PBSA project. There is a lack of high-quality student accommodation in the town, and this development will provide much-needed modern, well-located accommodation for students at the University of Northampton. At Aldermore, we’re committed to backing ambitious developers who are creating high-specification, sustainable living spaces, and we look forward to seeing this project come to life."
“It’s fantastic to have Aldermore’s support as we look to expand our business in the Midlands and meet the demand for purpose-built student accommodation. For over a decade, we’ve been servicing students in Leicester, but we began to see a real need for PBSA developments in Northampton and we knew we could help address this, to provide high-quality accommodation for the local student population – and it’s been made possible with the help of Aldermore.”
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