Development:
Conversion of the Grade II listed former Victoria Hotel in central Leeds into a 54-bed high-quality student accommodation scheme with two ground-floor commercial units occupied by a pub and potentially restaurant tenants. The development, situated in the heart of the city’s university district, delivered all self-contained studio apartments designed for the premium student rental market.
BLG provided a £7.4 million development loan to facilitate the transformation of this landmark heritage asset. The development was complex but was completed in time to facilitate the September intake. The project contributes to Leeds’ growing student housing infrastructure while revitalising a historic building. The clients refinanced our loan at Practical Completion and will be holding within their portfolio
Developer:
The client is a joint venture between two established property development groups. Both principals possess significant track records and strong financial backing, with extensive experience delivering student accommodation schemes across major UK cities including York, Sheffield, and Leeds.
Location: Central Leeds
GDV: £14 million
Loan Type: Student Accommodation / Residential Development Finance
Loan Term: 18 months
