Hampshire Trust Bank (HTB) has completed a £10.92 million development finance deal to back a 202-bed purpose-built student accommodation (PBSA) project in Stoke-on-Trent.
The scheme, set for completion by August 2025, will deliver modern student housing with premium amenities, responding to growing demand in the area.
The project involves a six-storey building featuring 202 studio flats, a study lounge, shared lounge, gym, games room, communal garden and rooftop terrace.
Designed to provide students with high-quality living spaces, the development will be a significant addition to Stoke’s student accommodation landscape.
TRACK RECORD
The initiative was introduced by Sarah Fisher, Managing Director of Kensington Shorre, and involves an experienced developer with a strong track record in North West projects.
HTB partnered with junior lender CapitalStackers, which contributed an additional £1.525 million facility to support the build.
TIGHT DEADLINES
With completion scheduled for the 2025 academic year intake, the timeline posed challenges requiring swift action.
Before the finance facility was secured, the borrower used their own cash reserves to keep the project on track. HTB and CapitalStackers acted promptly to provide essential funding and maintain momentum.
HTB has committed to close collaboration with the borrower and the monitoring surveyor throughout the build to mitigate risks.
A key focus has been addressing planning conditions, particularly around a local flood alleviation scheme, through robust contingency measures.
TEAMWORK
Pippa Betts, Relationship Manager at HTB, credited the success of the funding process to teamwork and a client-centric approach.
She says: “Having a robust programme of works is vital in PBSA projects. This client and contractor team are highly capable, and we’re confident they’ll deliver in time for the 2025 intake.”
And Sarah Fisher of Kensington Shorre adds: “This was a real team effort. Pippa’s transparency and determination were exceptional, ensuring progress was smooth despite complexities. This case showcases how a collaborative approach can drive success, and I look forward to partnering with HTB again.”
DELIVERING SOLUTIONS
Andrew Dignum, Lending Director at HTB, highlighted the bank’s expertise in managing complex cases under tight deadlines.
He says: “This development underscores HTB’s ability to deliver solutions that meet both the borrower’s and market needs. It will provide much-needed student housing in Stoke-on-Trent and exemplifies the power of collaboration.”
Steve Robson, Managing Director at CapitalStackers, adds: “This is another example of how banks and private investors can collaborate to get projects over the line.
“Our partnership with HTB has delivered consistent results, offering opportunities for both developers and investors.”
