CityBlock agrees £16m RBS facility
The Lancaster-based student accommodation provider has agreed £16.2m of finance with the Royal Bank of Scotland.
CityBlock manages three blocks in Penny Street in Lancaster with around 150 en-suite bedrooms.
CityBlock also has two properties in Leicester. The company was established 10 years ago by Trevor and Alison Bargh.
The financing agreement will support CityBlock's continued business development across the country.
Trevor Bargh, chief executive of CityBlock, 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."
The agreement was made with RBS's Greater Manchester real estate team.
