{"id":11465,"date":"2026-06-28T03:02:44","date_gmt":"2026-06-28T03:02:44","guid":{"rendered":"https:\/\/second-home.uk\/?p=11465"},"modified":"2026-06-28T03:02:44","modified_gmt":"2026-06-28T03:02:44","slug":"developer-secures-18m-refinancing-for-edinburgh-student-scheme","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=11465","title":{"rendered":"Developer secures \u00a318m refinancing for Edinburgh student scheme"},"content":{"rendered":"<p>Student accommodation developer Danehurst has completed an \u00a318 million refinancing of The Pepper Mill, a 155-studio purpose-built student accommodation (PBSA) development in Bonnington, Edinburgh.<\/p>\n<p>Secure Trust Bank Real Estate Finance provided the facility at 63% loan-to-value, with an initial term of 15 months. The development reached practical completion in time for the 2025\/26 academic year.<\/p>\n<p>The scheme comprises studios across multiple floors, with communal facilities including a lounge, gym, library, cinema room and games room. Danehurst\u2019s PBSA portfolio also includes schemes in Southampton and previously Egham, Surrey.<\/p>\n<h2>Supply shortage in Edinburgh<\/h2>\n<p>The refinancing occurs as Edinburgh faces significant pressure in its student accommodation market. Research from Student Crowd in March 2026 identified 23,109 PBSA beds against estimated demand of 41,325, creating a shortfall exceeding 18,000 places.<\/p>\n<p>Planning constraints are expected to limit future supply. Edinburgh\u2019s City Plan 2030, which took effect in November 2024, introduced restrictions capping studio apartments at 10% of unit mix in PBSA developments. Construction on The Pepper Mill commenced before these regulations applied.<\/p>\n<\/p>\n<p>The policy shift follows <a href=\"https:\/\/www.propertywire.com\/news\/scotlands-10000-deposit-scheme-faces-affordability-concerns\/\">broader regulatory changes affecting Scotland\u2019s property market<\/a>, as local authorities implement stricter development guidelines.<\/p>\n<p>\u201cReturning to STB to refinance this particular asset was an easy decision,\u201d said Bob Bratland, director at Danehurst. \u201cThe bank has a strong reputation in the PBSA space, and we were confident in the team\u2019s ability to see this deal through to completion.\u201d<\/p>\n<h2>Lender perspective<\/h2>\n<p>The transaction represents the second deal between Danehurst and Secure Trust Bank since 2021, led by Richard Lynn, senior relationship director, and James Reeves, relationship manager.<\/p>\n<p>\u201cEdinburgh is one of several cities across the UK where demand for student accommodation significantly outweighs supply,\u201d said Lynn. \u201cThe Pepper Mill is a standout development, and we\u2019re pleased to be supporting Danehurst again in providing much-needed student accommodation in such an incredible city.\u201d<\/p>\n<p>The 15-month refinancing term suggests Danehurst may be evaluating options for the asset, though the developer has not disclosed future plans for the scheme. The deal structure provides flexibility as the PBSA sector continues to attract institutional investment despite tightening planning regulations in major university cities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Student accommodation developer Danehurst has completed an \u00a318 million refinancing of The Pepper Mill, a 155-studio purpose-built student accommodation (PBSA) development in Bonnington, Edinburgh. Secure Trust Bank Real Estate Finance provided the facility at 63% loan-to-value, with an initial term of 15 months. The development reached practical completion in time for the 2025\/26 academic year. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9242,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":["post-11465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Developer secures \u00a318m refinancing for Edinburgh student scheme - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/uk\/developer-secures-18m-refinancing-for-edinburgh-student-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developer secures \u00a318m refinancing for Edinburgh student scheme - Second Home\" \/>\n<meta property=\"og:description\" content=\"Student accommodation developer Danehurst has completed an \u00a318 million refinancing of The Pepper Mill, a 155-studio purpose-built student accommodation (PBSA) development in Bonnington, Edinburgh. Secure Trust Bank Real Estate Finance provided the facility at 63% loan-to-value, with an initial term of 15 months. The development reached practical completion in time for the 2025\/26 academic year. 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