Liverpool‐based student accommodation provider Brickworks has agreed a £2.3million refinance deal with Secure Trust Bank.
Brickworks secured the loan against its development of 11 student houses in the popular areas of Wavertree and Kensington. The traditional Victorian terraced properties have been redeveloped to provide high‐quality student homes, with a total of 70 lettable rooms.
All the houses have bright, modern interiors, with exposed brickwork feature walls, wooden floors and kitchens with high quality appliances, fixtures and fittings.
The refinance deal will enable Brickworks to retain the properties within its portfolio, while providing funding for further developments.
Chris Daly, relationship director at STB REF, said: "Brickworks' houses are of a quality rarely seen in many student cities, with the attention to detail and quality of fit-out unrivalled across Liverpool. Students are increasingly seeking out high quality shared accommodation, with the focus on location remaining as important as ever. I only expect the challenges faced due to COVID-19 to exacerbate this trend and Brickworks are well placed to capitalise on this.
"Brickworks owner Jordan Silverstone clearly knows the market and his tenants well, both in terms of the dynamics of the student housing sector and student demands and we look forward to supporting him with his future ambitions."