The Crutched Friars development will also host the Migration Museum

Dominus and Cheyne Capital complete two senior loans for PBSA developments in the City of London

Dominus and Cheyne Capital have completed two senior loans totalling around £400m to provide development finance for two of Dominus’ PBSA developments in the City of London.

The first facility will support a development in Holborn, situated within close proximity of London universities including LSE, Kings College London and Queen Mary University of London.

Once the project is completed it will also provide a mix of cultural and affordable workspaces for creative businesses, leased free of charge by the Creative Land Trust, also included will be a viaduct connecting Holborn Viaduct and Snow Hill, as well as a free public access roof terrace.

The development will consist of 669 beds, with over 35% allocated as affordable accommodation and 64 rooms as wheelchair accessible.

A second loan will fund a development in the heart of the City of London, situated at 65 Crutched Friars between Aldgate and Tower Hill, which will consist of just under 800 beds, of which 35% will be affordable.

The space will also host the Migration Museum, a three-floor, 30,000 sq ft free to enter space.

The schemes, which have a combined GDV of circa £800m, will be developed and operated by Dominus.

Arron Taggart, head of UK investment at Cheyne Capital, commented: “We are pleased to be partnering with Dominus to deliver two developments in the heart of central London which will not only provide a first-class experience for students, but also stand to deliver benefits to the wider community.”

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