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Atelier Lends £16m for Cambridge Student Housing Refurbishment

Atelier has provided a £16 million development finance loan to support the refurbishment of a 150-bed purpose-built student accommodation (PBSA) scheme in Cambridge. The loan will fund the conversion of a first-generation student accommodation block into modernised facilities, including en-suite bedrooms, study spaces, a residents’ lounge, and a cinema room.

The 20-month loan marks Atelier’s ninth transaction with developer Rengen. The refurbishment will be delivered in two phases: 50 beds are targeted for occupation ahead of the 2026/27 academic year, with the remaining 100 beds scheduled for completion in January 2027.

The scheme is intended to serve students from both the University of Cambridge and Anglia Ruskin University. The financing structure was designed to accommodate the technical requirements of refurbishing occupied student properties.

This project reflects a wider trend in the PBSA sector, where developers are updating older student accommodation stock to meet current standards. The Cambridge student accommodation market is experiencing growing demand due to increasing student numbers at both universities.

The transaction represents continued investment in the student accommodation sector, with first-generation assets being repositioned to compete with newer developments.