Hull-headquartered Kexgill Group, one of the largest private owners of student houses and halls in the UK, has completed the multi-million purchase of Raleigh House, located close to Nottingham Trent University City Centre Campus.
Raleigh House provides over 20,000 sq ft of floor space, which Kexgill will convert into a new 57-bed cluster scheme. The development will form part of the group’s University Quarter brand and strengthens its existing student accommodation portfolio in Nottingham.
Kexgill’s legal advice was led by Helen Mellors, property partner at Andrew Jackson Solicitors, supported by partners Fiona Phillips (corporate), who provided advice on VAT, and Nick Dean (property litigation), who advised across a range of non-contentious issues.
The purchase of Raleigh House follows an exceptionally busy period for Kexgill, which most recently saw the award-winning group refinance 55 residential student units at various locations across the UK via a £25 million facility provided by InterBay Bank.
Richard Stott, managing director of the Kexgill Group, said: “Andrew Jackson continues to ensure that our best interests are looked after in what are often complex transactions.
“This latest purchase required careful negotiation over a lengthy period of time and I am delighted that Helen and the Andrew Jackson team were able to help us achieve preferred developer status for Raleigh House. We are now looking forward to ensuring that the premises receive the Kexgill treatment as we add to our existing portfolio of high quality, affordable student accommodation in Nottingham.”
Helen Mellors added: “Kexgill is a long standing client and we are particularly delighted to have assisted Richard and his team on the group’s latest transaction, and to support their continued growth in the student accommodation sector.”
