Plans to build a 112-bed student accommodation in the centre of Falmouth have taken a further step after a loan was secured for the site.

A £6.35 million loan has been completed from OakNorth Bank and ASK Partners, funding that will go to Hydrogen Falmouth to support work on the site through the current pandemic.

HMO occupation in Falmouth has reached capacity and Falmouth University and the Town Council have committed to providing enough purpose-built accommodation to reduce the demand on family homes in the area.

Roger Lal, Director of Finance for Hydrogen Falmouth, said:

"The site at Fish Strand Hill is an excellent location for student accommodation in Falmouth.

"We are committed to delivering a well-designed scheme and will continue to work closely with the universities to ensure requirements are met and that students integrate well into this vibrant local community.

"The funding provided by both parties will be instrumental in keeping this development on track through the Coronavirus pandemic and to meet future student demand."

The development is located directly behind Market Street in the heart of Falmouth's town centre, near shops, bars and cafes.

The site is also within walking distance of the Falmouth University campus and within easy reach of Penryn Campus.

Falmouth and Exeter University have said they are working closely with Falmouth Town Council and Hydrogen Falmouth, to ensure that they can provide sufficient purpose-built accommodation for the anticipated student numbers.

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