Ladybarn House, an established 117-bed PBSA scheme located in the popular student area of Fallowfield, is due to undergo refurbishments to reconfigure the existing rooms and improve student amenity while improving the building's ESG credentials.

The funding was completed within a 28-day exchange and completion timetable.

In December 2022 Leumi UK approved and facilitated a £8.29m acquisition and refurbishment loan with Patron Capital and Curation Capital for another existing PBSA scheme in West Hampstead.

Leumi UK were provided with valuation advice by Savills and construction advice by Gardiner & Theobald — while legals were acted upon by Stephenson Harwood LLP.

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Chris Stallard, relationship director at Leumi UK, said: “[The JV is] a well-known client of Leumi UK, and we’re pleased to have been able to work with the team again to provide a loan facility for this project.

“With the number of young people attending university steadily increasing, combined with tenants’ greater insistence on environmentally friendly housing, PBSA assets such as Ladybarn House will be instrumental in meeting the growing demand, and ensuring a bright future for both students and universities.”

Keith Breslauer, managing director at Patron Capital, said: “With this deal, we will be looking well into the future, ensuring that students will be able to stay in high-quality, energy-efficient housing for years to come.”