Brookfield-owned Student Roost has completed a forward-funding deal for a 472-bed student accommodation scheme in Nottingham to the tune of around £45m
The accommodation provider will work with developer Cassidy Group to complete the block by the start of the 2021 academic year.
The building will take the place of former office building York House, which was sold by intu in 2018 as part of a programme to dispose of non-core assets and has been demolished.
The site has planning permission for the student accommodation block in place and construction on the project now under way.
It will be Student Roost’s fourth in Nottingham and will bring the business’s total number of beds to 20,500 across 19 cities by 2021.
The building will consist primarily of cluster flats for students, but will also feature some studio apartments as well as 5,446 sq ft of amenity space.
Student Roost chief investment officer Stephen Rigby said: “Nottingham has long been a high-performing market for us and we’re delighted to acquire what will be our fourth property in the city once the project completes.
“The development is in a prime city centre location and will be highly complementary to our existing offering.”