Vita and Puma partner on 260-bed PBSA

Puma Property Finance has loaned the developer £43m to develop its third student accommodation block in Newcastle.

Located in the city centre, the site is currently occupied by a soon-to-be demolished furniture showroom.

Vita Student Leazes Park will come equipped with an on-site gym, bookable private dining, study rooms, access to a private courtyard, and a basketball court.

Vita is hoping to complete in time for the September 2026 influx of students.

The block will be a five minute walk from Newcastle University campus and 15 minutes from Northumbria University.

This is the third PBSA on which Puma has collaborated with Vita, following a £24m load for a 269-bed scheme in Belfast (2022) and a 268-bed block in Edinburgh last December.

Paul Murphy, senior manager at Puma Property Finance, added: “Having facilitated close to £100m to Vita across this site and the one in Edinburgh over recent months, it demonstrates our commitment to the sector and our desire to work with industry leaders like Vita.

“We are also pleased to be strengthening our presence in the North where we see considerable opportunity.”