This is what new student accommodation near Nottingham city centre could look like

A £3.1 million loan has been approved to facilitate the acquisition of purpose-built student accommodation in Nottingham.

The 210-studio building will be located just north of Nottingham City Centre.

Artist’s impressions shared by specialist finance lender Atelier show what the site will look like.

The AI created images show an apartment block with large windows and an outdoor social area.

Atelier said the loan included a VAT tranche to assist the borrower in covering VAT costs associated with the purchase price as some land titles were opted to tax.

The developer already has a strong standing in Nottingham’s student accommodation market. The site has consent for 210 student bedrooms complete with amenity and welfare spaces.

As a key student city with two popular universities, Nottingham has a combined student population of 70,000.

Raj Hothi, Senior Investment Manager at Atelier, commented: “This loan required creative structuring to meet the purchase requirements while working to a tight deadline.

“We were delighted to support a repeat customer with a track record of securing opportunistic site purchases in Nottingham and throughout the country.”