Moorfield Group has entered into its second development agreement with Melberry Developments on behalf of Moorfield Real Estate Fund V for a 293-bed purpose-built student accommodation scheme in Lincoln.
The £42m scheme is funded by Moorfield and is set to complete in 2024. It will include townhouses and cluster flats across almost 90,000 sq ft and seven buildings ranging from one to four storeys.
It is also Moorfield’s second project in its Zennor joint venture with Funding House.
Charles Ferguson-Davie, chief investment officer at Moorfield Group, said: “We have been investing in student housing for more than 20 years and investor confidence in the sector remains resilient, with domestic and international investors keen to increase their exposure to an undersupplied asset class offering risk-adjusted returns and long-term income streams.
“We see a market opportunity in new-build development and refurbishment of existing stock, with both strategies responding to investor demand for high-quality assets with leading ESG credentials.”
Tim Attlee, founder of Funding House, added: “The joint venture has been designed to provide funding solutions to leading residential development partners, enabling the delivery of best-in-class assets in a sector that is central to institutional investment portfolios.”
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