A TV star from the BBC show Dragons’ Den has brokered a £46 million purchase of a student village in Canterbury, in what amounts to one of the biggest property deals the city has ever seen.
After lengthy talks with developers Pavilion Property Group, millionaire and TV dragon James Caan successfully secured a deal for the 800-bedroom complex for 90 North Real Estate’s Kuwaiti backers Dimah Capital.
A source reportedly told Kent Online that the site is set to relieve pressure on housing stock as the area, which currently has 16 buildings, looks set to provide 600 additional student bedrooms.
Mr Caan, famous for his role on the BBC’s popular reality investment programme, is also chairman of 90 North Real Estate – an independent investment advisory firm specialising in Shari’ah compliant real estate investments.
Philip Churchill, founder partner of 90 North, told Kent Online: “Canterbury is a long-established centre for education and we are delighted to work with Pavilion Property Group to provide quality student housing and build value for our clients.
“What attracted us was Canterbury’s long tradition as a centre of educational excellence, which has resulted in a number of quality universities in the city.
“90 North is looking at opportunities to further improve the impressive accommodation and facilities at the student village, working with our university tenants to determine their wishes.
“This may include future development phases, but for the moment we are delighted to have made a significant investment into the Canterbury student accommodation market.”
John Gilbey, city council leader, reportedly said he was “staggered” at the city’s level of investment.