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Cityheart Partnerships Limited

Cityheart Partnerships Ltd

Date
July 2019

Sector
Education

Transaction
Financing

Value
£19m

Role
Fund Raising

Supporting Cityheart Partnerships Limited, QMPF has reached successful financial close for delivery of income strip finance to fund development of a 178 bed student residence at Station Approach, Hereford.

Working in partnership with Herefordshire Council, Cityheart structured a deal that will provide much needed student accommodation for Hereford College of Arts, and with the potential to accommodate students to the new New Model in Technology and Engineering (“NMiTE”) University. The financing, provided by M&G, was concluded following a comprehensive funding competition run by QMPF with subsequent negotiations able to deliver a competitively priced structure acceptable to all parties.

The development is a key part of Council’s wider regeneration strategy and is expected to open for students in September 2021.

For further information contact

Graeme Tough

Director

0131 222 2607

QMPF LLP, Excel House, 30 Semple Street, Edinburgh EH3 8BL
+44 (0)131 222 2600
info@qmpf.co.uk

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