Table of Contents
Key Highlights:
1. Torsion Group has secured a £26.2m finance deal with Atelier for a new student accommodation near the University of Warwick.
2. The deal is to develop 196 studios for student housing.
3. The new student accommodation is expected to be complete for the academic year starting September 2025.
4. Torsion CEO Dan Spencer said the deal would benefit the university, students, partners, and colleagues.
5. Atelier lending manager Rav Kudhail said the lender collaborated with Torsion to structure the finance facility to meet the 2025 deadline.
News in Details:
Torsion Group, a student housing developer, has hooked a £26.2 million financing arrangement with Atelier. It’s for a modern, purpose-built student living complex (PBSA) close to Warwick University in Coventry, UK.
It plans for 196 studios near the college. The builders will start the project soon, aiming for a finish in September 2025, just in time for the academic year.
Atelier’s £26.2 million will allow Torsion Group to buy the site and start construction. It ensures they reach the 2025 project end date.
Excited, Dan Spencer, Torsion Group’s head honcho, said: “This new project is a superb chance to show our ability to deliver. Partnering with Atelier, we’re positive we’ll complete this project on time and budget. It’ll benefit the university and students.”
Backing this up, Atelier’s lending lead, Rav Kudhail, said: “We structured the £26.2 million funding within a strict deadline. Success? Trust between our companies. As Torsion expands their PBSA work, we’re eager for more collaborations.”
The 196-studio housing development near the campus is committed to providing excellent living space for Warwick students. Torsion and Atelier ensure the project success for the 2025 academic year and beyond.
Summary:
Torsion Group recently bagged £26.2 million from Atelier for a unique student housing project near the University of Warwick. This hefty sum will support Torsion in constructing 196 studio apartments, set for completion before September 2025’s academic start. With the agenda of providing top-tier student accommodation, both firms are fiercely dedicated to meeting housing deadlines for students’ comfort.
