The workshop funds Hanover House’s PBSA scheme in Bristol

Specialist development finance lender Atelier has announced that it has completed a finance facility for Hanover House, a new purpose-built student accommodation scheme (PBSA) in Bristol.

The £5.38m facility at Atelier will allow Rengen Developments to refurbish and convert Hanover House – a Grade II listed office building in Bristol city center – into a 26-bedroom PBSA scheme. The building includes one apartment and 25 self-contained studios.

The PBSA scheme will provide much-needed student accommodation in the heart of Bristol, which is home to several top universities and has one of the highest shortages of student accommodation in the country.

This Bristol PBSA project is scheduled to be completed in time for September 2024 academic intake.

“We are delighted to be funding this conversion of a fantastic Grade II listed building in PBSA in Bristol. This is the seventh scheme we have worked on with our client Rengen and we are equally delighted to support this well-established PBSA developer in the South West.”

Matt Measures, Senior Investment Manager, Atelier