Major 240-bed Edinburgh student block among schemes backed by Royal Bank of Scotland funding

Royal Bank of Scotland has provided £82.6 million of funding to support student housing schemes in three cities, including Edinburgh.

The bank, part of NatWest Group, is supporting Rosethorn Capital Partners and Eagle Street Partners with the acquisition and “repositioning” of three purpose-built student accommodation (PBSA) schemes in Edinburgh, Birmingham and London.

The financing will support the acquisition of Haddington Place in Edinburgh, Selly Oak Court in Birmingham and Glassyard in Stockwell, London, alongside a significant programme of building safety, sustainability and quality improvements across all three properties. Haddington Place provides 240 beds close to Edinburgh city centre and major transport links.

The financing will support the acquisition of Haddington Place in Edinburgh, Selly Oak Court in Birmingham and Glassyard in Stockwell, London, alongside a significant programme of building safety, sustainability and quality improvements across all three properties.

The funding will support a programme that includes cladding remediation, compartmentation and fire door improvements.

Michael Goode, relationship director, large corporate real estate at NatWest Group, said: “Backing responsible investment in existing stock is a priority for us. By partnering with specialist sponsors to deliver safety‑led upgrades and targeted refurbishments, we are helping keep high-quality buildings in use and raising the quality of student housing in Birmingham, Edinburgh and London.”

Ricky Kullar, chief financial officer at Rosethorn Capital Partners, said: “It’s been great to work with Michael and the team at NatWest again in what continues to be a challenging but opportunistic PBSA market. NatWest has a pragmatic and solution-orientated approach to executing transactions, which we experienced first-hand during the acquisition of Spring Mews last year.

“We’re excited to deliver these projects over the coming years, leveraging our in-house asset and development management capabilities to execute our business plans and enhance the quality of these assets for students and investors alike.”

Will Banbury, head of origination at Eagle Street Partners, added: “We are pleased to be working with NatWest on these acquisitions, which represent an opportunity to enhance well-located PBSA assets in three of the UK’s strongest university cities.

“Together with Rosethorn, we have a clear business plan to deliver targeted improvements across each property, enhancing building quality, sustainability and the overall resident experience. NatWest’s support has been instrumental in helping us complete these transactions and we look forward to delivering high-quality institutional assets.”