De­vel­oper in RBS fund­ing deal for flats

The Scotsman - - Business -

Lon­don & Scot­tish In­vest­ments has se­cured a £19.8 mil­lion fi­nance deal from Royal Bank of Scot­land to push ahead with a ma­jor stu­dent scheme in Leeds.

A de­vel­op­ment com­pany owned by Lon­don & Scot­tish will use the fund­ing to trans­form a for­mer of­fice build­ing in the city into a 23-storey stu­dent ac­com­mo­da­tion com­plex.

The to­tal cost of the de­vel­op­ment is more than £33m and some 250 in­di­rect jobs will be cre­ated over the course of the next 15 months. The project is ex­pected to com­plete at the end of 2019, with the first res­i­dents due in early 2020.

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