Bricks Group has secured a £46.6m development loan from London Wall Lending to support the delivery of 457 PBSA rooms in Salford Quays, Greater Manchester.
The Discovery Quay II scheme will be set over 15 storeys with amenities including a cinema room, gym and a courtyard garden.
The development will be operated by Bricks’ in-house operating brand, True Student. The 21-month loan facility will fund the ground-up construction of the site, with the property expected to be ready for the 2023 student intake.
In 2020, LWL funded Bricks’ 401-room Discovery Quay scheme.
Peter Prickett, founder and chief executive of Bricks, said: “Salford’s real estate boom has been well-charted in recent years, and the areas in and around Media City are in high demand amongst the student and young professional population.
“We’ve built a strong working relationship with London Wall Lending and highly value its flexibility – we will utilise this relationship to continue providing experience-driven student living as the university continues to move from strength to strength.”
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