M&G backs 178-bed Hereford student scheme

M&G Real Estate has struck a deal to forward fund a 178-bed, purpose- built student block at Station Approach, Hereford. The investor is putting up more than £19m through its Secured Lease Income Fund. The site will be operated by student halls specialist Cityheart, and Herefordshire Council will retain the freehold. It will provide rooms for nearby Hereford College of Arts students, while there will also be the option to provide rooms for students of NMiTE, which is the UK’s first new greenfield university in 40 years, and is due to take its first intake of students in September this