CityBlock Secures financing for student housing refurbishment project

Student accommodation provider CityBlock Group has secured £8.2m in new funding from NatWest to support a major refurbishment project.

CityBlock, in partnership with a client of Cluttons Capital Partners, is undertaking a major refurbishment of Berkshire House in Reading which will create 134 student beds all available for direct let. The new funding facilities from NatWest will be used to support the project.

Trevor Bargh, managing sirector of CityBlock, said: “The project in Reading is an exciting development that will give students a fantastic living and learning environment. What is needed in terms of accommodation is always changing so having a bank like NatWest that understands our business and how we need to grow makes a huge difference. We have always been impressed with the NatWest team’s responsiveness and commitment to supporting our business.”