Hampshire Trust Bank (HTB) has completed a £10.92 million development finance facility to fund the construction of a 202-bed purpose-built student accommodation (PBSA) scheme.

The project in Stoke-on-Trent comprises a six-storey building with 202 one-bed studio flats, alongside a study lounge, shared lounge, gymnasium, games room, communal garden, and roof terrace.

Introduced by Sarah Fisher, managing director of Kensington Shorre, the scheme involves an experienced developer specialising in North West development projects. HTB collaborated with junior lender CapitalStackers, who provided a £1.525 million facility to support the development.

With practical completion scheduled for August 2025, to meet the September student intake, there was a tight timeline.

Before the facility was finalised, the borrower had been using their own cash reserves to keep the project moving, making timely funding crucial to maintain momentum. HTB and CapitalStackers acted quickly to ensure the construction programme was protected.

HTB will work closely with the borrower and monitoring surveyor throughout the build programme. This includes planning conditions relating to a local flood alleviation scheme which are being proactively addressed through contingency planning with the borrower and their student accommodation operator.

Pippa Betts, relationship manager at HTB, said: “We want to thank everyone who has been involved in the funding of this scheme, all playing a critical part.

“This includes the introducing broker, Sarah, who has been fantastic from start to finish, and worked ferociously to achieve the best result for her client.

“As always with PBSA transactions, having a robust programme of works in place is crucial. We’re confident that this is an incredibly capable client and contractor who’ll achieve practical completion in time for the 2025 student intake.”

Fisher added: “This case was a real team effort, and the level of commitment, transparency, and determination from HTB—particularly Pippa—was nothing short of exceptional. Pippa was always available, keeping us in the loop on progress and helping push things forward.

“It was a great example of how to handle a complex case, and I look forward to working with HTB again.”