Pluto Finance completes £34m PBSA development loan
Pluto Finance has completed a £34m purpose built student accommodation (PBSA) development loan for the Bricks Group, to complete its development in Swansea, South Wales.
Bricks Group is building a 706-bed scheme over four blocks, including a cinema, library, festival zone, coffee shop and gym; it will be available for students to occupy from September 2021.
Justin Faiz, partner at Pluto Finance, said: “We are delighted to complete this PBSA Development Loan to Bricks Group.
“With a proven track record for delivering high-specification schemes with their well-respected ‘true’ brand, they have a great reputation in the market.”
Allan Davidson, COO of Bricks Group, said: “We’re thrilled to be working with Pluto and look forward to a close and mutually beneficial partnership.
“We see great potential in Swansea, with the city centre in the press a lot at the moment, for all the right reasons, and the university amongst the most highly rated when it comes to student satisfaction and experience.
“This links positively to our ‘true’ student brand, where our engaging communal areas, such as our famous Festival Zone social space and ‘Come Dine With Me’ shared dining rooms, ensure that students have the very best experience when staying with us.
“All of our guests benefit from our innovative ‘truelife’ programme, which surrounds them with amazing opportunities and experiences that boost their wellbeing, personal network and life-skills, so they feel energized, connected and inspired.
“At ‘true’ we say: ‘It’s not just about what we do, it’s how we make you feel!’.”