Claremont House, Glasgow
In late 2013, Maven's specialist property investment team raised £6.8 million to fund the purchase and conversion of Claremont House in Glasgow into a new 94 bed student residence. Located in Glasgow’s thriving West End and only a stone’s throw from Glasgow University, Claremont opened in time for the 2014/15 academic year and has since enjoyed high levels of occupancy.
The completed development was managed by CRM, one of the top five specialist student accommodation management companies in the UK and already operates 50 units across the country, including two in Glasgow.
The underlying appetite for higher education coupled with a structurally undersupplied market led to interest from potential buyers for Claremont House, and was subsequently sold to a specialist European property fund for £8.37 million in April 2015.