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Partners agree terms for the renewal of Bridges Hall at the University of Reading

The University of Reading and its specialist accommodation partner UPP have completed a deal that will see the redevelopment of student residences at the University of Reading’s Whiteknights Campus. The transaction will see a further £46m invested in the University’s estate and represents the final phase of the University’s Residential Master Plan. The redevelopment responds to increasing demand from students for high quality, affordable accommodation on campus and is due to become operational for the academic year 2014/15.The Senior Lender on the transaction is Aviva Commercial Investors providing £46.4m of funding, with £9.7m of subordinated debt and equity raised by UPP and its investors. The University has taken an equity stake...[…]
Photos: Willmore Iles Architects