Campus Developments receive finance boost
Birmingham City University has secured a £45m Revolving Credit Facility to support the construction of three new buildings.
The five-year facility will provide project finance and working capital to enable the completion of three construction projects in 2017. This includes the new Birmingham Conservatoire, an extension to The Curzon Building at City Centre Campus and the extension to the Seacole building at City South Campus.
The University’s Conservatoire is the first complete new build conservatoire in the UK since 1987, and will provide state-of-the-art performance space. The new Curzon Building extension will house over 3,000 students and members of staff and features more than 650-rooms, a Student Hub, lecture theatre and mock courtrooms, adding a 100,000 sq ft extension. The new Seacole Building will accommodate the relocated School of Education as well as the new School of Life Sciences.
Chris Hall, Director of Finance at Birmingham City University, said:
“Birmingham City University plays a pivotal role in the West Midlands economy and in transforming students’ lives. We have strong industry connections and supply a talented and diverse graduate pool to support economic growth in the region and beyond. The development of our facilities is key to the University’s growth and this agreement with HSBC will help finance their completion.”
Jon Bramwell, Managing Director, Large Corporates, Midlands & East, at HSBC said:
“This deal reflects the wider development and growth which Birmingham is currently experiencing while also investing in its future. We are keen to continue to develop our strategic partnership with local universities given the establishment of our UK headquarters in Birmingham’s Enterprise Zone.”
Suzy Verma, Head of Public Sector & Education in the UK added:
“We continue to work with Midlands’ universities to support their growth plans, as in this case with exciting new facilities at BCU, which are increasingly attracting both inward and outward investment as the strategic importance of the Midlands intensifies.”
These projects will help Birmingham City University to develop state-of-the-art facilities to enable students to fulfil their potential.
The funding was arranged by Stephen North, Relationship Director.