George Davies lawyers complete just in time for Christmas

Partners Jonathan Kay and Nicky Collins and solicitor Philip Worrall from Manchester based solicitors George Davies, advised CISX-listed Mansion Student Accommodation Fund on its funding and acquisition of a student residence at St. Andrews Gardens in Liverpool.

The debt funding for the purchase, which completed on Christmas Eve, was provided by Barclays Bank plc.

The 421 bed student accommodation will be managed by Manchester based, Mansion Property Management Limited and is expected to be the first of a number of similar acquisitions by the Fund. The Fund offers a net initial yield of 7.0% to investors in relation to this first acquisition.

London firm Dartmoor Capital Management Limited is the Investment Advisor to the Fund and is promoting the Fund in the UK. Principal Manager to the Fund is Guernsey-based PSG Fund Management (CI) Limited and licensed by the Guernsey Financial Services Commission.

Nicky Collins, Corporate Finance partner at George Davies, commented: “Student numbers are rapidly increasing so many investors see student accommodation as an attractive property investment. The Fund’s business model is to acquire existing student halls of residence and then re-furbish these to a high standard. The Fund is currently looking at further acquisition opportunities in London, Oxford and Glasgow and we are very much looking forward to working with Dartmoor and PSG again on these exciting projects.