Member Article

Lancaster’s CityBlock secures £16.2 million finance agreement

Student accommodation provider CityBlock has secured a multi-million pound financing agreement with the Royal Bank of Scotland’s (RBS) Real Estate business.

The financing arrangement which totals £16.2m will allow for CityBlock’s continued business development across the country.

The Lancaster-based company currently provides student accommodation for over 400 students across five student blocks in Lancaster and Leicester.

CityBlock was established 10 years ago by husband and wife team Trevor and Alison Bargh who are new RBS clients.

CEO of CityBlock, Mr Bargh, said: “The demand for student accommodation continues to grow and as a business we want to position ourselves as a leader in providing high-quality accommodation to students.

“RBS has shown a commitment to supporting our business growth aspirations and we have been impressed by their , responsiveness and by their interest and enthusiasm for our business.”

Head of RBS Real Estate Greater Manchester, Karen Johnson, said: “We are delighted to support CityBlock on this funding arrangement.

“CityBlock is a well established and respected family business with a great track record of success and we look forward to supporting the business with its growth aspirations for the future.”

This was posted in Bdaily's Members' News section by Sophia Taha .