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Principality Building Society’s Commercial Investment Funds City Accomodation

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A stylish 90-bed student accommodation with a cinema facility has been built in the heart of Cardiff thanks to investment from Principality Building Society’s Commercial team.

Glendower House, just off Dumfries Place close to Cardiff University’s campus, is eight storeys high and comprises of a mixture of single occupancy studio rooms and “Twodios”- two study bedrooms sharing a communal kitchen/diner. The accommodation includes a group study pod, games room, gym, cinema, as well as laundry and vending machines.

Following the successful partnership between Principality Commercial and TVE Group for the Northgate House student accommodation development back in 2014, the two have come together again to make Cardiff an even more attractive student destination.

Jim Brook, Head of Customer Relationships at Principality Commercial said:

“It’s great to back such a modern and advanced development in a thriving student city. It incorporates all the mod-cons with practical living spaces the 21st Century student wants and I’m sure it is going to be a popular place to live. We’ve got a proud history of supplying investment in student accommodation in Wales and it’s been great to work with TVE again.”

Sam Rutley, Chief Executive of TVE group said:

“We are proud that our latest investment in the Cardiff student accommodation market provides a landmark new building, which raises the bar for student living opportunities. We greatly appreciate the support from Principality Building Society on this scheme and look forward to working with them again in the future.”

Construction is expected to be completed for the start of the 2017/18 academic year in September.

Principality Commercial provides funding for the acquisition and re-financing of investment properties such as offices, industrial, retail, and residential. They also fund residential developments and commercial developments, the latter only against a pre-sale or pre-let.