Puma to provide Vita with £52m facility for Edinburgh PBSA scheme
Vita Group has secured a £51.8m development loan from Puma Property Finance for part of its £240m New Waverley regeneration scheme in Edinburgh.
The funds will help transform part of the brownfield site into a 267-bed student accommodation scheme that will operate under the Vita Student brand.
It is the second development that Puma has partnered with Vita on, having previously provided finance for its Belfast development in 2022.
Vita Group has secured a £51.8m development loan from Puma Property Finance for part of its £240m New Waverley regeneration scheme in Edinburgh.
The funds will help transform part of the brownfield site into a 267-bed student accommodation scheme that will operate under the Vita Student brand.
It is the second development that Puma has partnered with Vita on, having previously provided finance for its Belfast development in 2022.
Vita Student New Waverley is targeting completion ahead of the 2026 academic year. It will be the third Vita Student residence in Edinburgh.
Max Bielby, chief operating officer for Vita Group, said: “Through this major investment into the redevelopment of New Waverley, the project will support economic growth, creating new jobs for the city and provide much-needed student accommodation for Edinburgh’s growing student population.”
Kevin Davidson, managing director at Puma Property Finance, added: “We are delighted to be renewing our partnership with Vita on this mixed-use student and commercial development. The site offers a fantastic location for students – close to the city centre, transport links and the Edinburgh University campus. Vita Student’s developments are recognised as best-in-class in the PBSA market, and this site will be no different.”
Image from Vita Group
