Octopus Real Estate

Octopus Real Estate provides £26m for 398-bed Birmingham PBSA scheme

Octopus Real Estate has agreed to provide £26m of development finance for a 398-bed PBSA scheme in central Birmingham.

The building — which is scheduled to be completed and ready to welcome students at the start of the 2020 academic year — is situated within a 15-minute walk of three of Birmingham’s main universities.

This is the second PBSA scheme to be financed in several months between Octopus Real Estate and property developer Bricks Capital.

“We’re always on the lookout for opportunities in the PBSA sector, and this latest deal with Bricks is another quality PBSA development that will help support students in their academic performance and enhance their university experience,” said Gavin Eustace, head of development at Octopus Real Estate.

“Cities such as Birmingham, with several academic institutions and a large student population, provide a great opportunity for developers.”

Peter Prickett, CEO at Bricks Capital, added: “With close to 70,000 full-time students, Birmingham is an ideal city to develop high-end student accommodation for our ‘True Student’ brand to operate.”

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