£17m fuel renovation of 690-bedroom student accommodation

Paragon Bank has provided a £17.55m funding facility to support Frogmore in the renovation of a 690-bedroom student accommodation.

Singer Hall was acquired by Frogmore from Coventry University in September 2023, which had been vacant since June.

Located on Canterbury Street, the hall’s refurbishment is set for completion by the start of the 2024/25 academic year, with premium ensuite and non-ensuite rooms, studios, and one-bedroom flats set to be available.

Improved amenities include a new cinema room, games room, laundrette, multi-purpose quiet room, study area, and well-being facilities, enhancing the living experience for residents.

Gas boilers will be replaced with electric systems, air source heat pumps, as well as PV panels being installed.

Upon completion, student accommodation provider The Mansion Group will manage and operate the property.

Prices range from £99 per week for non-ensuite rooms to £200 for one-bedroom flats, inclusive of bills, high-speed Wi-Fi, and contents insurance.

The deal was spearheaded by Paragon’s Senior Relationship Director Simon Dekker, supported by Senior Portfolio Manager Craig Seabourne and Portfolio Manager Izzy Sargeant.