BauMont Real Estate Capital, backed by M&G Real Estate, together with Spinnaker Estates, has secured a £40 million loan from Grosvenor to acquire and refurbish Ropemaker Court, a 416-bed purpose-built student accommodation (PBSA) scheme in Manchester. The total acquisition cost of the property was £42 million.

The five-year loan facility includes a capital expenditure (capex) tranche to support refurbishment works aimed at enhancing the property’s amenity offering and energy efficiency. Planned improvements include the installation of solar panels and the integration of smart building technology, reflecting BauMont’s commitment to sustainability and modern living standards.

This acquisition forms part of BauMont’s UK Living strategy, which targets assets requiring capital investment in high-demand markets. Manchester’s PBSA sector remains particularly attractive due to the city’s leading academic institutions and a persistent supply-demand imbalance, offering strong fundamentals for long-term growth.