“We’re proud to support Six Degrees with this high-quality PBSA scheme in a town where demand for student accommodation continues to grow.”
– Karl Kent – Paragon Bank
Paragon Bank has provided an £8 million funding package to Six Degrees, an experienced SME developer and part of 9 Property Group, to refinance and support the development of a 100-bed purpose-built student accommodation (PBSA) scheme in Loughborough.
Launched in April 2025, the facility refinanced the existing site and is aiding the construction of a high-spec PBSA complex in the heart of Loughborough town centre. Construction is now three months underway, with the development expected to welcome its first students in September 2026.
The accommodation will feature 100 en-suite bedrooms organised into 22 cluster flats, offering modern, high-quality living spaces designed for today’s students. The completed scheme is projected to deliver a gross development value (GDV) of £12.2 million.
Six Degrees delivers premium student accommodation across the Midlands, including projects in Derby, Nottingham, and Loughborough. This is the company’s first transaction with Paragon Bank, facilitated by Relationship Director Karl Kent and supported by Portfolio Manager Shannon Altimas.
The scheme will serve Loughborough University’s large student population, which exceeds 19,000. With the town ranked among the UK’s top university locations, demand for well-located, well-managed PBSA remains strong. Both domestic and international students seek high-quality, en-suite accommodation close to campus and local amenities.
Taj Ubhi, founder and CEO of 9 Property Group, said, “We’re excited to be bringing forward another PBSA development in a location we know well. Paragon’s understanding of the sector and agile approach to funding has made them an ideal partner, and we’re looking forward to delivering this scheme ahead of the 2025 academic year.”
Karl Kent, relationship director at Paragon Bank, commented, “We’re proud to support Six Degrees with this high-quality PBSA scheme in a town where demand for student accommodation continues to grow.”
“Taj and the team have a strong track record in delivering similar projects and we’re confident this development will be a welcome addition to Loughborough’s student housing offering. It’s been a pleasure to work with Six Degrees on their first deal with Paragon and we look forward to supporting them on future projects.”
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