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Quantum backs 232‑bed Durham student scheme with £30 million loan
21 October 2026 | Loan | UK | 232 beds | Development
The facility supports the delivery of Melbury Court ahead of the 2027 student intake, extending an existing lender‑developer relationship.
Key details
Asset type | Development |
Location | Durham, UK |
Capacity | 232 beds |
Borrower | Asset Capital |
Lender | Quantum Development Finance |
Value | £30 million |
Source: Business Money
Asset Capital has secured financing for Melbury Court, a five‑storey student residence on the northern edge of Durham, marking the second development Quantum has financed for the company in two years.
The scheme, which has a stated gross development value of £46 million, is being delivered by Caddick Construction, with completion targeted for summer 2027. Alongside its planned delivery ahead of the new academic year, the development is also targeting a BREEAM Excellent rating.
Strategic context
Quantum previously provided Asset Capital with an £11 million facility for a 34‑unit mixed‑use development in Harrogate. The Durham loan extends that lender‑developer relationship into a larger, purpose‑built student accommodation development, building on an established working relationship rather than a new lending partnership.
The Durham scheme also introduces a more time‑sensitive delivery requirement, as student accommodation must be ready for the annual student intake, making the summer 2027 completion target particularly important.
For Asset Capital, the facility supports the progression of the project from a permitted development site towards an operational student accommodation asset.
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