£228m whole loan facility to finance the development of “First Street”, a premium Co-Living development in Manchester. The borrower, Downing Living are developing a mixed use scheme which will complete the regeneration of First Street and provide a vibrant new co-living neighbourhood of 2224 beds.
The scheme, designed by award winning architects the Simpson Haugh Partnership, will provide high-quality, purpose built accommodation in city centre locations, with extensive shared amenity spaces and active ground floor uses. The finished scheme will complement the area which already has an innovative blend of culture, leisure, retail and office space.
The loan was provided in partnership with global financial services group Nomura.