Summary:
- Atelier has provided a £16 million development finance loan to Rengen for refurbishing a 150-bed student accommodation scheme in Cambridge, marking their ninth collaboration and supporting the conversion of a first-generation PBSA block into modern facilities.
- The refurbishment will deliver 150 en-suite bedrooms, study spaces, a residents’ lounge, and a cinema room, with phased completion targeting 50 beds before the 2026/27 academic year and full delivery by January 2027, serving students from the University of Cambridge and Anglia Ruskin University.
- The transaction highlights growing demand in Cambridge’s student accommodation market and reflects a sector trend of repositioning older PBSA assets to meet current standards, with financing structured to address the complexities of refurbishing occupied student properties.
Original article:
https://www.propertywire.com/news/uk/atelier-provides-16m-for-cambridge-student-housing-refurb/
