£57.2 million transaction completed by UPP and Nottingham Trent University

UPP has completed a £57.2 million transaction (£45.8m of senior debt provided by RBS; £11.3m sub-debt and equity procured by UPP) with Nottingham Trent University. The scheme will create significant sports and social facilities for Nottingham Trent University students and staff, covering 5,500 square metres, excluding student living accommodation, and will create an iconic landmark at the Northern gateway of the University’s City site. New facilities will include a gym, music venue, retail space and health centre. The facility will also provide bespoke accommodation for the University’s Students Union, making its facilities among the best equipped in the country, in addition to 911 new student bedrooms. Construction is underway, with UPP’s construction partner Vinci Construction UK already on site.

UPP, working in partnership with Nottingham Trent University, will handle the design, build and operations of the scheme. The site will be managed by UPP’s experienced residential services management team. This sustainable campus infrastructure project is UPP’s fifth project with Nottingham Trent University, where it now operates the vast majority of the student accommodation on-campus. The development is designed to achieve a BREEAM Excellent rating, building on the University’s environmental commitment.

Nottingham Trent University’s Vice-Chancellor, Professor Neil Gorman, said: “The University is one of the largest providers of undergraduate education in the UK and one of the most popular in terms of applications received. This development, which is part of an ambitious regeneration programme, is extremely important in ensuring we continue to offer an inspiring environment for both students and staff.

“We have worked closely with the Students Union and other key stakeholders to identify the right ‘components’ for this redevelopment and believe it will create a defined ‘heart’ to the City site and will significantly add to the student experience. We are very much looking forward to the fruition of this scheme, which further signifies the commitment the University has to its students, its staff and to the wider local community.