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South Yorkshire Pension Fund provides £46m loan to fund student accommodation in Sheffield
15/03/2024
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South Yorkshire Pension Authority (SYPA), advised by CBRE Capital Advisors, has provided a loan of £46 million to property developer Bricks Group to fund the development of a 494-bed Purpose Built Student Accommodation (PBSA) scheme in Sheffield.
The loan will support the development of the site, positioned across two parcels of land, totaling 35,520 sq ft, and bisected by Hollis Croft. Situated within a mile of the city centre, the site offers excellent connectivity to both the University of Sheffield and Sheffield Hallam University, which have a combined student population of around 60,000.
Recent CBRE data revealed the UK’s major university towns are facing a shortage of more than 350,000 beds, as demand continues to outweigh both the supply and delivery of student accommodation. In Sheffield, it is estimated around 7,000 students are unable to access this type of accommodation.
Bricks Group is a privately-owned property group, specialising in investment, development, and management across several sectors including hotels, student accommodation, and co-living. The group is known in the student accommodation sector for its brand True Student.
The South Yorkshire Pension Authority’s Place Based Impact Investment lending programme was established in 2019 to invest within South Yorkshire providing affordable homes for local residents, and now students, as well as providing industrial buildings providing jobs and a boost to the local economy.
The completion of this latest loan to Bricks Group has brought the current loan book to £120m of committed capital, closer to its target of £130m allocation. This is the tenth loan committed to date and it takes the total capital invested by the fund, since launch, to around £160m, with two loans now fully repaid, demonstrating the fund’s potential for further local investment lending in the future.
Councillor Jayne Dunn, Chair of South Yorkshire Pensions Authority, said: “As a Sheffield Councillor our investment to provide more homes for students in Sheffield is a welcome addition to our local investment portfolio. We are proud to be able to support South Yorkshire’s economy with more investment than ever before with our Place Based Impact Portfolio. The Hollis Croft development will really help to boost our area’s economy, providing new, environmentally sustainable homes for students studying at the universities, and provide quality jobs for the community whilst also freeing up housing for local families and allowing the Authority to make the returns we need to continue to pay our members pensions each month.”
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Pay your pension some attention in 2024 and come along to one of our pension sessions
15/01/2024
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Reflecting on the success of our pension sessions in 2023, where we had the pleasure of hosting nearly 1,500 members, we're thrilled to unveil an even more exciting calendar of events for 2024. In case you missed out last year, this is your chance to join one of our new sessions and learn more about your pension with us.
Seamless Hybrid Sessions at Oakwell House
Led by our knowledgeable Customer Services Team at our Oakwell House office in Barnsley, our hybrid sessions provide the flexibility you need. Join us in person or seamlessly connect online through our live stream on Vimeo – the choice is yours.
Streamlined Booking for Your Convenience
Say farewell to the hassles of traditional booking methods! Our revamped booking process introduces an intuitive
online form
Whether you prefer attending sessions at Oakwell House or joining us virtually, booking your spot has never been easier.
If you do need to speak to our Customer Services Team or cancel your place, you can still call us on 0300 303 6160 or email customerservices@sypa.org.uk.
Special Sessions Tailored for You
You asked and we listened! We’ve added some dates in the school holidays for term time workers and moved our evening sessions to a later time for those joining us after work. You can download the full list of dates using the button at the end of the article.
Explore the dynamic and informative sessions we've tailored for different member needs in 2024:
Understanding Your Pension: Ideal for members new to the Local Government Pension Scheme, covering how and when benefits are paid, combining previous pension rights, setting up an online mypension account, and understanding Annual Benefit Statements.
Midlife Planning: Tailored for members in their late 30s to mid-50s, covering ways to boost pensions with AVCs or APCs, utilising tools like the Mid Life MOT, and explaining how and when retirement benefits are paid.
Taking Your Deferred Retirement Benefits: Specifically designed for members at retirement age with a deferred pension, guiding them through the online retirement process, claiming benefits, and using mypension for access to P60s and payslips.
Planning for Retirement: Geared towards members aged 55+, offering guidance on retirement planning and how to use mypension for running retirement quotes and accessing relevant documents.
How to Use Your Online Account (Pensioners/Active/Deferred Members): Hands-on sessions for retired, active, and deferred members, assisting in account setup, accessing statements, running retirement quotes, view P60’s and payslips (retired members only) and updating details and nominations.
Get more from your Money and Pension: two virtual sessions on MS Teams with Jenny from the Money and Pension Service who can talk you through how to get the most from your money and pension and the free tools and resources they have to help.
Recorded Sessions for Your Convenience
We understand life's can be unpredictable, and to accommodate your busy schedules, all our pension sessions will be recorded. Access them post-event on our Events page, ensuring you never miss out on valuable insights.
Secure Your Place Today!
Don't miss out on the opportunity to pay your pension some attention and improve your financial well-being.
Explore dates
for 2024 and reserve your seat now.
We look forward to seeing you at a session soon!
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