The senior refinancing secured by Olympian Homes and Housing Growth Partnership (HGP) for Centre Court in Nottingham has been confirmed at £75m. This financing, provided by Affinius Capital, is aimed at refinancing the development debt for the newly completed 790-bed purpose-built student accommodation (PBSA) scheme located on Alfreton Road.
Although the refinancing was announced in July, the actual value of the facility was not disclosed at that time. The partnership indicated that this transaction not only provides a robust platform for stabilising Centre Court but also demonstrates ongoing confidence in the asset’s future potential. Ardant Partners played a pivotal role in supporting the refinancing, collaborating closely with Affinius Capital to structure and deliver this significant financial package.
The Context of the Financing
This refinancing follows a previous £72m debt facility provided by Puma Property Finance in January 2024, which was instrumental in supporting the delivery of the scheme. Centre Court occupies the former Forest Mill site in Nottingham and comprises 790 PBSA bedrooms, enhancing the local student accommodation landscape.
Amenities and Operations
The scheme is operated by Homes for Students and features a range of modern amenities including a café, co-working spaces, a gym, a yoga studio, a cinema room, a garden terrace, and various games areas. These facilities are designed to cater to the diverse needs of students, creating a vibrant living environment.
Implications for Investors and Operators
The £75m facility transitions the financing of Centre Court from its development phase into stabilisation, highlighting a significant milestone for the project and its stakeholders. This successful refinancing reflects a broader trend in the UK PBSA market where confidence continues to grow, providing opportunities for investors looking to capitalise on the increasing demand for quality student accommodation.