Hub is in talks with Lloyds-backed equity investor Housing Growth Partnership regarding funding for its £120m purpose-built student accommodation scheme in Leith, Edinburgh.
Shore Station, which has 632 beds, is the largest single student accommodation scheme to gain planning consent in Edinburgh.
It comprises 42% studios, 54% clusters and 4% one, two and three-bedroom apartments, as well as 7,500 sq ft of expansive internal amenity spaces, including study rooms and booths, resident lounges, entertainment areas, private dining rooms, cinema and gym.
Hub acquired the site from Edinburgh developer Sundial Properties in 2021.
HGP is an equity investor formed by Lloyds Banking Group and Homes England in 2015 to help unlock housing delivery by SME builders.
In an interview with EG earlier this year, HGP chief executive Vic Hepburn said as the forward-funding market was struggling, the equity investor found itself in the position of being a significant enabler in the living sector.
It can commit up to £30m on a single-site basis, which enables it to invest into any deal size across the sector. It has previously invested in build-to-rent and PBSA schemes across the UK.
Harris Associates has been appointed to seek funding for the scheme.
Image © Hub
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