Delancey loans €29m to Hurlington Capital and Vfund

Developers Hurlington Capital and Vfund have obtained a £24.5 mln (€28.9 mln) loan from Delancey to refinance their student housing project on Bollo Lane in Acton, West London.

Bollo Lane

The PBSA project, managed by Hurlington, will replace existing commercial and industrial buildings with a 429-bed student accommodation building and a separate 95-unit affordable housing development. Planning consent for the project was secured in May 2024.
Slated for completion in the 2028/29 academic year, the student housing aims to address local undersupply and cater to students from nearby institutions like Imperial College and the University of West London.
The development is part of a larger Bollo Lane regeneration project led by Transport for London (TfL) and Barratt Homes, which will incorporate new homes, workspaces, and retail, and also benefit from improved transport links.
Harry de Lotbiniere, Hurlington Capital, said: 'Delancey has proven to be a reliable funding partner for this transaction thanks to their flexibility, speed, and certainty of execution. This loan will replace an existing financing facility and cover pre-construction costs as we look to move forward in delivering another market-leading PBSA-led residential scheme in an area witnessing significant regeneration and investment that will be supportive of our proposed development.'
Martin Kom, Director of Real Estate Strategies, Delancey, added: 'We are pleased to partner with Hurlington Capital, a highly experienced sponsor with a proven track record, on this well-located opportunity. We are very excited by the regeneration already underway in the surrounding area, with the next phase, led by TfL, expected to attract substantial inward investment and drive long-term value appreciation. We remain convinced in the London PBSA sector, which continues to be underpinned by a fundamental supply-demand imbalance.'
Delancey has been actively providing substantial loans, including whole and mezzanine financing, for a variety of property types, mainly within London. Key examples of their lending activity include involvement in the £235 mln (€278 mln) refinancing of a prime office building at 280 Bishopsgate and participation in a £135 mln (€160 mln) refinancing deal for the Notting Hill Gate Estate, a highly sought-after, almost fully occupied freehold property.