Specialist student accommodation developer Gilltown Limited has agreed the forward funding of its prime 430-bed student development on Oxford Road in Bournemouth with AIG Global Real Estate for £40 million.
The 16-storey development is a high-quality, cluster-led scheme with extensive communal facilities including a common room, gym, study rooms and a sky lounge, close to the various facilities of the Lansdowne campus of Bournemouth University.
It is anticipated that the building will be direct let and managed by specialist manager, Fresh Student Living.
Construction is underway and the building is due to complete in August 2019 in time for the 2019/20 academic year.
Craig McPhail of Montagu Evans represented AIG on the transaction, while Bruce Clark of Lawson & Partners advised Gilltown.