Octopus to provide £16m for 225-room Bristol student scheme

Octopus Property has agreed to provide a £16m development facility for a student accommodation scheme in Bristol.

The 25-month loan will be provided to Atlas Land Ltd to deliver a 225-unit, purpose-built student accommodation (PBSA) scheme, which will also include three commercial units in Bristol city centre.

The scheme on Dean Street is approximately one mile from the main University of Bristol campus and 400m from Cabot Circus.

Gavin Eustace, head of residential development at Octopus Property, said: “The PBSA sector remains one of the most attractive asset classes for investors due [to] its defensive characteristics, while the Bristol market – with its above average supply-demand imbalance and strong academic tradition – is a particularly compelling market in which to provide development finance. 

“With a highly regarded development manager and experienced main contractor in place, we look forward to building a lasting relationship with Atlas Land for the duration of this project and into the future.”

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