NJOY refinance releases £1m equity

NJOY Student Living has refinanced its portfolio at Langdale Hall in Upper Park Road and Carfax Court in Lower Park Road in Manchester with Lloyds Bank, releasing £1m of equity.

NJOY undertook a major refurbishment programme of the two properties in the last year, which it said had helped drive strong rental growth and high occupancy. Property and construction finance firm Cowgill Holloway advised NJOY.

Richard Tkaczyk, director of NJOY, said: "The key to our success has been providing a quality product and service at an affordable price. Cowgill Holloway property and finance team have supported us all the way and have a clear understanding of our business model and the property market."