Danehurst has successfully secured an £18 million investment refinance facility for The Pepper Mill, a purpose-built student accommodation (PBSA) project situated at 24-36 Dunedin Street in Edinburgh. The scheme features 155 bedrooms, thoughtfully designed and distributed across five and six stories within the Bonnington/Canonmills area, addressing the growing demand for quality student housing in the city.
The Development Details
The Pepper Mill offers a range of amenities aimed at enhancing the student living experience, including a lounge area, games room, large communal kitchen, cinema room, fully equipped gym, study room, and a library. This BREEAM Excellent-rated development has recently been completed and is now under the management of Prestige Student Living, positioning it at the premium end of Edinburgh’s student accommodation market. The main contractor, Clark Contracts, successfully topped out the project in March 2025, with overall completion anticipated by October 2025.
Financing and Market Impact
The financing deal was established with Secure Trust Bank, providing a 15-month investment facility for one of Edinburgh’s newest and most highly specified PBSA assets. This transaction marks Secure Trust Bank’s second collaboration with Danehurst, demonstrating the bank’s sustained confidence in the structural demand dynamics of the Edinburgh PBSA market. The partnership aligns with the bank’s strategy of supporting experienced sponsors in university cities facing supply constraints, highlighting the importance of such developments in meeting the needs of students.