Kexgill to create homes for hundreds of Hull students with £12.7m investment

Student accommodation provider Kexgill has secured an eight-figure investment for a major new development at the University of Hull.

The company will use a £12.7m loan from OakNorth bank to acquire and refurbish 91 houses into accommodation for up to 436 students.

Kexgill already owns and operates 500 student bedrooms at the university.

Established in 1978, the firm today houses 3,250 students across nine UK university locations, including Middlesbrough, Stockton, Leeds, Nottingham and Liverpool.

Kexgill MD Richard Stott said: “We are very proud of our partnership with the University of Hull.

“The additional 92 houses with the existing 100 houses purchased in the last two years, produces an iconic location, which has been branded the University Quarter (UQ).”

He added: “Coupled with our other existing stock in this area, the UQ will house almost 1,100 students all adjoining the campus in a unique partnership with the University of Hull.”

Hemesh Patel, property finance director at OakNorth, commented: “The team at Kexgill have extensive experience of developing and letting student accommodation across the UK, but Hull is a region of particular significance to the company as this is where its journey began.

“Over the last four decades, they have continued to strengthen their relationships and expertise in the area and have clearly found a recipe for success given that their rooms are already pre-let.”

Hemesh continued: “We look forward to working with them on future projects and seeing the development once completed.”