Atelier provides £16m loan to reposition Cambridge student accommodation scheme

By Bridging Loan Directory 25th June 2026

Development finance lender Atelier has today announced the completion of a £16m loan for the refurbishment and repositioning of a 150-bed first generation PBSA scheme in Cambridge.

The loan, structured over a 20-month term, enables the transformation of an existing PBSA asset into a modern student living environment, providing 150 en-suite student bedrooms, alongside a range of amenities, including dedicated study spaces, a residents’ lounge, and a cinema room.

With growing student numbers for both the University of Cambridge and Anglia Ruskin University, the scheme is well located to meet the increasing demand and serve students attending Cambridge’s two universities.

The development will be delivered in phases, with the first 50 beds expected to be available for occupation for the 2026/27 academic year, followed by the remaining 100 beds scheduled for completion in January 2027.

Avi Miller, Credit Director at Atelier, commented:

“This transaction marks our ninth loan with Rengen, reflecting the strength of the relationship we have built over a number of years and our commitment to supporting experienced developers as a long-term lending partner.

Their specialist expertise in repositioning first-generation PBSA assets, combined with a proven track record of successful delivery, gave us great confidence in this opportunity.

With strong fundamentals underpinning the Cambridge student accommodation market and a clear strategy for delivery, we look forward to supporting the borrower as they bring this development forward.”

Iestyn Lewis, Founder CEO at Rengen, commented:

“The Atelier team delivered once again, working to tight timescales while structuring a facility that provided the right level of day one advance.

Their expert understanding of the requirements associated with financing a first-generation student refurbishment project was evident throughout the process, enabling them to provide a pragmatic solution and complete the transaction efficiently.”