Six Degrees, part of 9 Property Group, has secured an £8m loan from Paragon Bank. The funds will support the refinance and development of a 100-bedroom purpose-built student accommodation (PBSA) scheme in Loughborough.
The funding went live in April 2025 and has refinanced the existing site, supporting the build of a new, high-spec complex in the town centre.
Construction started three months ago and is on target to welcome students in September 2026. The development will deliver 100 en-suite bedrooms across 22 cluster flats, with a gross development value (GDV) of £12.2m.
“We’re excited to be bringing forward another PBSA development in a location we know well.
“Paragon’s understanding of the sector and agile approach to funding has made them an ideal partner, and we’re looking forward to delivering this scheme ahead of the 2025 academic year.”
Taj Ubhi, founder and CEO, 9 Property Group (owner of Six Degrees)
This is the firm’s first deal with Paragon Bank, led by Karl Kent, Relationship Director at Paragon, with support from Portfolio Manager Shannon Altimas.
“We’re proud to support Six Degrees with this high-quality PBSA scheme in a town where demand for student accommodation continues to grow.
“Taj and the team have a strong track record in delivering similar projects and we’re confident this development will be a welcome addition to Loughborough’s student housing offering.
“It’s been a pleasure to work with Six Degrees on their first deal with Paragon and we look forward to supporting them on future projects.”
Karl Kent, Relationship Director, Paragon Bank
