UPP secures £140m for Exeter University expansion

University Partnerships Programme (UPP) has secured £139.7m for its expansion of the University of Exeter at East Park.

The investment includes £125.1m of index-linked debt financing on a 48-year term from Pension Insurance Corporation and £14.6m of subordinated debt from UPP Group.

UPP will design, build, fund and operate 1,182 rooms at Streatham Campus, the university’s largest campus.

The company first partnered with the University of Exeter in 2009. The latest deal is the third on-campus scheme in the partnership and brings the total rooms that UPP will operate to 4,000.

Richard Bienfait, CEO at