Pivot Finance has provided a £3m land bridge facility to support the acquisition of a prime city-centre site in Southampton for development into 257 purpose-built student accommodation (PBSA) units.
Speed was a critical factor in this transaction, with the client needing to complete the purchase within a tight timeframe.
Pivot Finance completed the transaction within three weeks of the application and five weeks from when planning permission had been granted.
The site, located in Southampton City Centre, is positioned to meet the growing demand for student accommodation, driven by the city’s two major universities.
With 257 student units planned across a six-storey and a three-storey building, the development will make a positive contribution to the local student housing market.
Andreas Yianni (pictured), commercial director at Pivot Finance, said: “This transaction is a great example of how Pivot Finance delivers flexible and well-structured funding solutions to support ambitious development projects.
“The site’s location and the developer’s expertise made this a compelling opportunity, and our ability to move quickly ensured they secured the site without delay.
“As the demand for student accommodation continues to grow, this project will be an important addition to Southampton’s housing market.”
