The funding will be used to create a 60-bed scheme, on the site of a since-demolished former council building, which will be made up of 12 studio flats and eight six-bed cluster flats.

This building will also have dedicated ground floor commercial spaces, as well as gym facilities, communal areas, cycle storage and laundry facilities.

Shawbrook tailored the £4m package to be a 21-month facility, providing this for Lower Ashley Road Developments which has 25 years’ experience in the construction industry.

Though the developer has delivered multiple PBSA schemes, this is their first such project with Shawbrook.

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“Shawbrook was recommended by another property developer in Bristol and after speaking with [Shawbrook relationship director Greg Pescott] who understood our plan, he was able to put together a bespoke package to support the PBSA project,” said Shaun Ellis, managing director of Lower Ashley Road Developments.

“We’re glad that we’re able to provide brand-new, much needed housing options for students.”

Greg added: “We’re really pleased that we’ve been able to support Shaun and his team with this PBSA project, which will be a welcome addition for students of Bristol University who have struggled with a lack of accommodation options.
 
“We were able to provide a unique facility over a 21 month term, and we look forward to seeing the finished project, and supporting Shaun and his team with their future endeavours.”