“They’ve never let us down”
How our relationship with Fusion Students helped them develop
When the Fusion Residential Group decided to diversify into student accommodation, they needed expertise from business advisers who understood property tax, legal, banking and commercial requirements.
Laying the foundations
Looking for a location for their first site, Fusion identified one in Bristol – but other developers were interested too.
We advised Fusion not to buy the land – but instead to buy the company owning the land. Based on what would be saved on stamp duty land tax, this enabled Fusion to put in a better offer than the competition. This structure worked well for the seller too.
Ongoing support
As Fusion grew to become a leading provider of student accommodation – with developments in Nottingham, Newcastle and Cardiff as well as Bristol – we continued to support them.
“We always run our ideas by them first. They’re aware of how we work commercially. They’re there when the pressure’s on. I’ve had emails from them at the weekend. One time they even drove to one of our sites with paperwork to help hit a deadline. We signed in hard hats on the bonnet of a car!”
Sanjay Bhasin, Group Finance Director, Fusion
Securing a Stellar sale
In 2018, with a strong portfolio, Fusion were exploring opportunities to sell. Because of our trusted relationship, they turned to us.
We advised Fusion throughout their negotiations with Arlington Advisors and Equitix for a significant sale. The properties involved were spread across Nottingham, Newcastle, Cardiff and Bristol and referred to as the Stellar Portfolio:
This became one of the biggest recent sales in the UK student accommodation sector.
As this sector continues to grow, we look forward to helping Fusion grow with it.
“BKL are smart, but thorough and completely bona fide, which is very important to us. I’ll see them eight or nine times a year in person and we’ll meet socially a couple of times too. I actually have them on speed dial! They’ve never let us down.”
Sanjay Bhasin