Student accommodation specialist Future Generation has unveiled two PBSA schemes and secured a £55m development facility from Maslow Capital.
The funding will be put towards a 458-bed scheme in Loughborough and a 485-bed scheme in Nottingham.
The Luxurio development in Loughborough, which has a gross development value (GDV) of £45.3m, is being designed by Rio Architects and will comprise landscaped grounds, roof terraces and green living walks on the outside of the building. The scheme will range from three to seven storeys and comprise 18,320 sq ft of commercial and reception space.
In Nottingham, ‘The Vantage’ development, which has a GDV of £48.3m, is arranged over 12 storeys and will be one of the city’s tallest buildings. The development is being designed by Axis Architecture.
The two schemes, which already have planning consent, represent Future Generation’s fourth and fifth PBSA project.
Future Generation is a joint venture between Southern Grove and Tadhamon Capital.
“Student accommodation in the right location remains an incredibly strong, long-term proposition and we will continue to put other providers under immense pressure by raising the bar on the level of service and quality students should expect,” said Andrew Southern, chairman of Southern Grove and Future Generation.