The renovation work will be complete for the start of the 2024/25 academic year and will offer various accommodations, including premium ensuite and non-ensuite rooms, studios and one-bedroom flats. 

The ESG-led refurbishment includes the replacement of gas boilers with electric systems, air source heat pumps and the installation of PV panels, with a range of improved amenities on-site, including a new cinema room, games room, laundrette, multi-purpose quiet room, study area and well-being facilities.

This deal was led on behalf of Paragon by senior relationship director Simon Dekker.

Simon commented: “Coventry boasts two strong and growing universities, and this deal will result in good quality new stock coming onto the market for the 2024 academic year.

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“At Paragon we offer flexible funding options across a range of different types of developments.

“Therefore, we were delighted to be able to support Frogmore with a loan to renovate an existing building in the PBSA sector.” 

Andrew Rogers, COO and group treasurer at Frogmore added: “It has been a pleasure to work with Paragon Bank on the financing of the refurbishment of Singer Hall. 

“This project will increase the supply of quality accommodation to the Coventry student population by upgrading the existing obsolete accommodation to offer students a newly refurbished, environmentally friendly home and improved amenities whilst they are studying. 

“Our refurbishment of Singer Hall is a continuation of Frogmore’s track record of fixing obsolescence.”