Property developer secures £10m to progress PBSA scheme
Integritas Property Group (IPG) has secured a £10m funding facility for its Deakin’s Yard PBSA scheme in Newcastle-under-Lyme.
The funding will support the development as it moves through the final Building Safety Regulator approval stages ahead of the 2026/27 academic year.
Provided by Pivot Finance, the facility will bridge the period while the structurally complete scheme awaits Gateway 2 sign-off, with all key certifications already in place.
Deakin’s Yard is structurally complete, with all key health and safety certifications in place. The refinancing was required to bridge the period during which the development awaits formal regulatory sign-off, despite construction works being substantially finished on site.
The transaction was structured to reflect the current status of the asset, with IPG working alongside advisers and funding partners to secure a solution that maintained project momentum while navigating regulatory timing constraints.
IPG said the agreement ensures continued financial backing for the scheme as it moves through the final approval stages before student occupation.
Mitchell Walsh, CEO of IPG said: “This funding is a major milestone for Deakin’s Yard and reflects the resilience, professionalism and commitment of everyone involved in the project. Deakin’s Yard is a structurally complete asset, and securing the backing of another institutional funding partner is a clear endorsement of both the quality of the development and the work that has gone into delivering it.
“The challenges we have faced have not been due to any lack of progress or commitment on site, but rather the timing pressures created by the Building Safety Regulator process. This refinancing ensures the scheme is properly supported while we continue through that sign-off stage and move towards welcoming students for the 2026/2027 academic year. We are grateful to Pivot Finance for their support and pragmatic approach throughout the process.”
Pivot Finance said the deal reflected a collaborative approach to resolving delivery constraints within the PBSA sector.
Valan Redmond, relationship director at Pivot Finance said: “Working with IPG, Pivot recognised the potential of the Deakin’s Yard scheme and focused on finding a solution to support its delivery. Prompt decision-making, supported by external advisers, was key to overcoming the project’s complexities.”
