Forsters advise on Student Development Funding
Forsters has advised a pension fund managed by LaSalle Investment Management in relation to the £16 million forward funding of a student housing development in the heart of Norwich. The developer is Alumno Developments.
The scheme, known as the All Saints' Norwich project, comprises a nine-storey block located adjacent to the city’s bus station. The development will comprise to accommodate around 220 students, along with management facilities, while demolishing 52 and 54 All Saints Green and creating a new landscaped public square with gardens.
The development is due to complete in September 2015 and has been pre-let to Norwich University of the Arts on a 21-year lease.
Commercial property partners Howard Gill and Ronan Ledwidge led on the transaction, assisted by James Corbett. Head of Construction, Sarah Cook, advised in relation to construction matters assisted by Emily Holdstock.