Vita Group
Vita Group agrees £190M funding deal for Union development with Cain International and PGIM Real Estate

Vita Group agrees £190M funding deal for Union development with Cain International and PGIM Real Estate

Vita Group has agreed a major funding deal with Cain International and PGIM Real Estate. The £190M development loan will be used to finance the 500,000 sq.ft Union development at St John’s.

Designed to mobilise an army of young professionals, Union will create 1,676 beds, with a mix of studios, duos, trios and quad apartments. Tower one is expected to be complete in Spring 2024 and Tower two is expected to be completed in Summer 2025.

Union will offer a host of fantastic amenity space, designed to create thriving communities including a quiet zone library, co-workspace, private dining facilities, an electric pool car programme, as well as an events space with a programme run by Vita Group, which will include speaker evenings, live music events, food tasting and book clubs. The second tower will also offer a ground floor food, beverage and leisure offering, anticipated to be open to both residents and non-residents.

The scheme will be delivered by Renaker, one of the leading development and construction companies in the North West of England.

Mark Stott, Vita Group CEO said: “We’re delighted to partner with Cain International and PGIM Real Estate on this outstanding scheme. Union has been designed to mobilise the next generation of young professionals creating a product which provides the perfect blend of amenity, service, and space in a sought-after location and at a price which is accessible. Having financial partners Cain and PGIM Real Estate onboard with this project ensures Vita can focus on future developments and growth opportunities.”