Urbium secures £45m backing for student homes in the North

Bank of London and the Middle East has provided a £45m loan to Urbium Capital in support of the two student accommodation developments in the North of England. The deals include a 20-month development facility to support a new-build scheme at 15 Foss Island Road in York. The 133 student bed scheme is due to complete in mid-2026. In addition, the bank has issued a three-year refinancing facility for The Arcadian in Nottingham. The 293-bedroom property is managed by Homes for Students under its Evo brand and is 100% let for the 2024/2025 academic year. The deals follow the bank’s original 18-month development facility, provided in June 2023. James Procter, director for real estate finance at BLME, said: “These deals highlight the continued resilience of the PBSA sector and demonstrate BLME’s ability to support both the delivery and long-term ownership of student housing through tailored finance solutions.” Suliman Aujan, founder and chief executive at Urbium Capital, said: “The UK PBSA sector continues to offer compelling fundamentals, underpinned by acute supply-demand imbalances. Since our inception, the team at BLME has proven to be a trusted and agile partner, aligning with our pace and ambition.” Image © Pete Linforth/Pixabay