Zorin Finance

Zorin provides its first student accommodation loan

Zorin Finance has completed its first student accommodation loan to take it past the £400m lending milestone.

The alternative property finance lender provided a £12m facility to develop a 131-bed student accommodation scheme in Hockley, Nottingham.

The scheme will include 5,922 sq ft of retail space.

Last month, Zorin provided a £19m facility to help with the purchase of land, construction of 50 new houses and infrastructure for a further 100 houses in Chilmington near Ashford.

The development is part of a wider scheme by Hodson Developments to build around 5,750 new homes as well as retail, community, social and recreational facilities and is expected to bring around 1,000 new jobs to the area.

“Zorin Finance’s growth has been rapid over the past three years as a result of the shortage of fast and flexible funding offered to SME developers,” said Andrew Scotting, head of lending at Zorin Finance (pictured above).

“We are delighted with the success we’ve had to date and have our sights set high as we continue to grow.

“It is clear from the success we have had to date that developers welcome our swift and tailored approach and our ability to execute facilities quickly provides us with an advantage to traditional lenders.”

In July, Zorin appointed Derek Bradstock as its head of regional lending.

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