Investors were invited to support a £1.5m capital raise for Phase Two of this former Department of Work & Pensions building in Sunderland City Center, strategically located close to the University of Sunderland.
BACKGROUND
The University of Sunderland will invest around £100m to undertake a major redevelopment of its St Peter’s campus on the riverside. This investment is a major step-change in the University’s ambitions, building on the £75m already invested on facilities in the last five years.
Sunderland City Council is implementing a bold programme of regeneration across the city. It will create a new library and student centre and International Business School. This will be followed by investment in education and research facilities, in the key growth areas of computer science and engineering, as part of the University’s commitment to further its work in STEM (science, technology, engineering, and mathematics).
OPPORTUNITY
An investment opportunity which supports the capital raise for a Student Accommodation project in Sunderland City Center. The funds are being used to purchase and develop this former Department of Work & Pension property, excellently located between the two main University Campuses of the University of Sunderland. Phase Two will comprise 30 flats and 1 commercial unit.
INVESTMENT METHOD
12-month investment term with a 12% per annum return.
OUTCOME
Having invested into this project personally, with Vine acting as a strategic partner in the capital raise. The capital raise was completed using a blend of private finance and senior debt with the investment opportunity now closed. The redevelopment is underway and will deliver high-quality student accommodation upon completion.
