Puma Property Finance facilitates a £43m loan for Newcastle PBSA development

Puma Property Finance (“Puma”) today announces it has facilitated a £43 million loan to Vita Group to fund the development of a new 260-bed purpose-built student accommodation (PBSA) scheme in Newcastle.

This latest scheme follows Puma’s recent partnership with Vita on a 268-bed PBSA development in Edinburgh in December 2024.The Newcastle development is in the city centre, a 7-minute walk from the main Newcastle University campus, a 5-minute walk from the Newcastle University student union and business school and a 15-minute walk from Northumbria University’s main campus. The site was previously a furniture showroom that is set to be demolished to make way for this best-in-class student accommodation.

Vita Student Leazes Park will include outstanding amenities such as a state-of-the-art onsite gym, bookable private dining and study rooms and every bedroom will feature a high-quality fitout with floor to ceiling windows. There is also access to a private landscaped courtyard and basketball court.

Developed and operated by Vita Student, the scheme is targeting completion for incoming students that want to maximise their university experience during the September 2026 academic year.

This will be Vita’s third PBSA development in Newcastle. It is also the third scheme that Puma has partnered with Vita on, having previously facilitated a £24 million loan to the group for a 269-bed PBSA development in Belfast in September 2022 and the December 2024 Edinburgh development.

Max Bielby, Chief Operating Officer for Vita Group, commented: “This development in Newcastle marks our third in the city and we are delighted to be continuing to provide incoming students with high-class accommodation and facilities. We are looking forward to seeing this development come to life over the coming months in partnership with Puma.” 

Paul Murphy, Senior Manager at Puma Property Finance, added: “We are delighted to be partnering once again with Vita Group on this Newcastle development where there is a real need for their best-in-class student schemes. Having facilitated close to £100 million to Vita across this site and the one in Edinburgh over recent months demonstrates our commitment to the sector and our desire to work with industry leaders like Vita. We are also pleased to be strengthening our presence in the North where we see considerable opportunity.”