In the bank: Pavilion Housing Association has signed an £8.4m loan facility with Allied Irish Bank to finance new student housing. The association is building the Bank Residences for the University of Surrey.

The 258-unit scheme, designed by architect Lewis Hickey, has ensuite rooms and will be completed in September.

Under the deal, it leases the land from the university, develops the site and leases the buildings back to it for 24 years. The loan lasts 19 years.

Source

Housing Today