Specialist development finance lender Atelier has today (January 22) announced the completion of the £26.2 million gross loan to Torsion Group to build a purpose-built student accommodation development of 196 studios near the University of Warwick. 

The funding will see the accommodation built, just a 15-minute walk from the main University of Warwick campus.

The accommodation will offer gym and cinema facilities in addition to a rooftop terrace.

The development is set to be complete for the academic intake of September 2025. 

Commenting on the scheme, Rav Kudhail, lending manager at Atelier, said: "With Torsion's long-track record of providing high quality PBSA developments, we are delighted to be working with the team on this scheme and will always look to be creative in our structuring of facilities for counterparties of this quality. 

"Working to tight deadlines we collaborated with the Torsion team to structure a finance facility, enabling them to acquire the site and work to a build programme ready for the 2025 academic year. 

"Ultimately, the success of this deal has been down to the trust established throughout the process. We remain committed to lending within the PBSA sector and look forward to building upon this relationship in the months ahead." 

The new accomodation scheme will have 196 studio flats (image supplied)

Torison has helped build over 3,000 purpose built student accommodation rooms since 2016, and has a further 3,000 in the pipeline.

Dan Spencer, CEO at Torsion Group, said: "The University of Warwick development is the latest in a series of major new project wins for Torsion as we extend our presence in the PBSA sector. 

"We are confident that our collaboration with Atelier will deliver outstanding benefits not only for the university and its students but also for our partners and colleagues." 

Dan added: "Our mission is to bring project delivery excellence to all our schemes, and this development at the University of Warwick is a fantastic opportunity to embed this approach further. 

"Torsion's track record of handling projects over on time and on budget, combined with the property finance expertise of Atelier, will achieve exceptional results on this project." 

The development is set to be complete for the academic intake of September 2025 (image supplied)