Quayle Munro Project Finance acted as financial advisor to the University of Salford on its £81m student accommodation project, which reached financial close in November 2013. The project will provide 1,367rooms of modern ensuite accommodation at the heart of the university campus,replacing some of the university’s existing residential stock, and is expectedto be operational for the 2015/16 academic year.

The student residences will be delivered by a consortiumcomprising Campus Living Villages (operator), Graham Construction (maincontractor) and investors Equitix and Kier Project Investment. StandardLife Investments is provided senior funding to the project company via a 45year indexed lease from its Long Lease Property Fund.

QMPF has advised the university on the project since itsinception in early 2011 and through its subsequent procurement viacompetitive dialogue and the process to financial close. Our role included structuring the financial aspects of the procurement, bid evaluation,financial modelling, and advice on the associated risk, accounting and financial considerations for the university.

QMPF advised the College on the selection of a property deal through an OJEU procurement process (competitive dialogue), and assisted with negotiations to legal completion, selecting Rightacres Property as development partner for the new College on the Dumballs Road in Cardiff, with the build undertaken by Wilmott Dixon. The development was supported by a £20m grant from the Welsh Government.

QMPF also provided funding advice, including an options appraisal and the arrangement of a £20m loan facility for the new campus.

Financial advisor to the University on its 1,180 bed/£92m Holyrood Road student accommodation project. The residences will be developed and operated by a Balfour Beatty owned project company and are funded by a listed bond (wrapped by Assured Guaranty).

Financial model review and commercial advice to the City of Edinburgh Council’s wholly-owned property development subsidiary in relation to its Parc Craigmillar urban regeneration project.

Financial advisor to the University on its 378 bed student accommodation project at Madeira Way. The residences are being developed by The Bournemouth Development Company, a public-private partnership between Morgan Sindall Investments and Bournemouth Borough Council, which has obtained funding from M&G Real Estate (formerly PRUPIM). The University will enter into a lease upon completion of the residences.

Financial advisor to the College on the procurement of a site and developer of its £45m new community campus facility in central Cardiff. We also prepared the Outline Business Case (including forecasting model) for submission to the Welsh Government.