Published: Feb 20, 2020
Focus:
Property
We have continued our extensive involvement with the UK student housing sector with the development of a 159-bed scheme in Stirling, Scotland. The transaction represents our 12th purpose-built student accommodation (PBSA) development across the UK, totalling over 1,900 beds.
Clark Contracts are appointed as the main contractor with Workman LLP acting as the project manager to deliver the £13.5 million development. Construction work is well underway on the 6-storey facility, which is due to open in advance of the 2020/21 academic year and bookings are now being taken.
The new facility is located in a prime position in Stirling’s historic city centre with excellent transport links and connectivity to the University campus and local amenities. Stirling railway station is also only a 5-minute walk with direct services to Glasgow, Edinburgh and Aberdeen.
The complex includes an attractive mix of 82 en-suite cluster bedrooms across 2,3,6,8 and 9 bed apartments, and 77 self-contained studios. In addition, the new building will feature a gym, cinema, private dining room, cycle shelters and common room.
“We continue to see value in the PBSA sector across many of the UKs regional towns and cities, driven by growing pressures on the existing stock of accommodation, increasing student numbers and a shift in tenants desire for city centre living. In conjunction with Susan Stephen Architects Maven has redesigned elements of the building to include more affordable accommodation which is proving extremely popular with students to date”.
Colin Anderson, Partner at Maven
