Construction News

08/01/2020

Funding Secured For UCA Farnham Accommodation

The University for the Creative Arts (UCA) is set to move forward with new student accommodation at its Farnham campus after securing funding.

Legal & General has agreed to fund the new 252-bed student residence on behalf of its LPI (Limited Price Inflation) Income Property Fund.

Located in the heart of UCA's Farnham campus, the development will be leased to the University on a new 35 year full repairing and insuring lease on completion, which is scheduled for summer 2021.

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Derek Gilby, Senior Fund Manager of the LPI Income Property Fund, commented: "The quality and affordability of accommodation can represent a large factor for students when deciding where they want to go to University. We believe that quality facilities that are affordable for students can help to provide a quality education. This is an excellent buy for the Fund, offering a secure long term income stream which provides a hedge to inflation from a good University."

(CM/MH)

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