Beaufort has agreed to provide a loan to Danehurst Developments, a specialist developer of purpose-built student accommodation, for a development project in Egham, Surrey for students attending Royal Holloway, University of London. The GDV is forecast to be in excess of €35.3m (£30m) and will be delivered by HG Construction.
The project will deliver accommodation for 166 students, across a range of studio flats and cluster apartments, and will feature a gym, residents lounge, cycle storage, landscaped gardens and quiet study areas. The property is located less than five minutes’ walk from the main campus of Royal Holloway University of London. The scheme will be delivered in time for the 2021/2022 academic year.
Danehurst has delivered three previous high-quality student accommodation projects in Egham and a scheme in Kingston upon Thames. All previous student developments have proved extremely popular and have been fully let during every year of operation.
Joe Flaherty, Director at Beaufort, said: “Having funded three previous Danehurst projects, I am well aware of the quality of what they produce and we at Beaufort are thrilled to be supporting them on this project in Egham. The location of the site is excellent and will be a very attractive proposition for Royal Holloway students. We are very much looking forward to seeing the development take shape over the coming months.”
Bob Bratland, Director at Danehurst, said: “Beaufort has proven to be the type of funding partner we wish to work with. Working closely with them, Beaufort grasped early on our ambitions for the project and supported us wholeheartedly in providing finance to a tight time scale and with efficiency which leaves most other funders behind. We are delighted to be working with Joe and his team.”
