Cynergy Bank funds £15.1m student accommodation in Canterbury
UKPulse Local Desk
Cynergy Bank has provided a £15.1 million debt facility for a new 180-room student accommodation development in Canterbury.
- Cynergy Bank provided a £15.1 million senior debt facility.
- The funding is for 'The Sanctum', a 180-room purpose-built student accommodation.
- The development is located on a brownfield site next to the University of Kent campus in Canterbury.
Cynergy Bank has provided a £15.1 million senior debt facility to Student Lux Limited. This funding is for 'The Sanctum', a purpose-built student accommodation development in Canterbury.
The development will feature 180 rooms and is situated on a brownfield site adjacent to the University of Kent campus. The deal includes a stabilisation tail and an occupancy-linked pricing mechanism.