Liverpool student developer secures £27m refinance deal

Based in Liverpool Carpenter Investments has delivered £65m of new buildings in the city’s Knowledge Quarter and has secured a £27m refinance deal. Tony McDonough reports

Hardman House
Hardman House, a scheme by Carpenter Investments that opened in 2020

 

A Liverpool developer of student residential schemes has secured a £27m refinance deal and is looking for new investment opportunities.

Carpenter Investments has secured the new deal with Lloyds Bank against its Hardman House development in the city centre. It opened in 2020 and provides accommodation for 355 students and a 40,000 sq ft Liverpool John Moores University education faculty.

The three-year deal will help Carpenter Investments build on its existing £150m portfolio of student, commercial and private residential developments. It has now completed 18 developments since being founded in 2010, including more than £65m of new buildings in Liverpool’s Knowledge Quarter.

Carpenter Investments is also the parent company of L7 Architects, construction firm Carpenter Build, and Urban Sleep, which manages the group’s student accommodation and residential apartments. The business is focused on long term ownership and undertakes the design, construction and operation of all its buildings

Alan Beer, managing director at Carpenter Investments, said: “Hardman House was a significant milestone for Carpenter Investments, but we are not standing still. We’re already working on some really exciting and creative plans that will be transformative for another landmark site in the city, and we are actively seeking new locations to build.

“This new facility from Lloyds Bank is a show of faith in the prospects of the city region’s property sector and the plans we have at Carpenter Investments as we look to support the economic recovery and the return of students to Liverpool.”

Richard Butterfield, relationship manager at Lloyds Bank, added: “Carpenter Investments has an experienced management team and a strong track record of delivering both student and private residential investment assets across Liverpool and the North West.

“Hardman House stands out because of its enviable location adjacent to the Liverpool John Moores University campus, providing quality accommodation for students and the university alike.”

Carpenter Investments was advised on the transaction by Hill Dickinson. Shoosmiths advised Lloyds Bank.

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