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Andrew Jackson Advises Kexgill Group on £25 Million Refinance Facility For Student Accommodation Expansion

We are delighted to have advised long-standing client the Kexgill Group, one of the largest privately owned providers of student accommodation in the UK, on a £25 million refinance facility, which has been provided by InterBay Bank.

The substantial transaction, which is a ten-year, interest only commercial investment refinance loan, involved the refinancing of 55 residential units at Bradford, Hull, Liverpool, Middlesbrough, Nottingham, and Preston.

Kexgill’s legal advice was provided by a multi-disciplinary legal team led by our property partner Helen Mellors, who was supported by Claire Ramsden, Robert Hill, Adrian West, and Ailish Ward in the real estate and property team, as well as Philip Ashworth, Nick Scott, Martin Frost and Benn Shilleto in the corporate team.

Hull-headquartered Kexgill is an award-winning student accommodation provider with a consistent track record of successfully re-investing in its expanding portfolio, as Richard Stott, managing director of the Kexgill Group, explained: –

“Securing medium term fixed rate debt in a variable market is important for our Group particularly where we are creating scale in locations outside our Hull base. We are delighted that this latest transaction has been stress-free in a market which has seen considerable flux in recent months.

“We are grateful for the help and advice of those involved in this deal, including Andrew Jackson Solicitors, who remain our trusted legal partner and whose expertise in complex matters is essential to help us realise our commercial objectives.”

Helen Mellors added: –  “Our client relationship with Kexgill spans several years and it is particularly rewarding to have assisted  Richard and his team on the group’s latest significant transaction, and to support their growth in the affordable student accommodation sector.”

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