Venture's funding to run new college

A JOINT venture between York University and Evans Property Group to own and run a new college on the campus received a £16.5m loan to help finance the cost.

By The Newsroom

Published 3rd Dec 2010, 11:14 BST

Updated 3rd Dec 2010, 11:14 BST

The 589-room Goodricke College at Heslington East, which was officially opened in April 2010 by Prince Andrew, is one of the first elements of the university's campus expansion plans.

The loan from Santander Corporate Banking's real estate team in Leeds helped finance the purchase of the student accommodation, which will release money for the university.

James Meigh, relationship director at Santander Corporate Banking, said: "Santander is delighted to build on the existing relationships already established with both Evans Property Group and the University of York, who we consider to be leading players in their respective fields. Going forward we expect to see joint ventures of this nature become commonplace as the extent of government spending cuts are felt across the education sector."

The bank was advised by DLA Piper, Leeds.

Leeds Santander