10/02/2014 01:52 PM
The £60 million scheme will include two large blocks on Beith Street near to the River Kelvin in the Scottish city. Architects Falconer Chester Hall have designed the project with award-winning property developer Downing delivering the building which will house 701 students when completed. Alongside the accommodation will be generous landscaped gardens which will sit on the river bank.
It forms part of the Glasgow harbour masterplan and help attract more undergraduates and postgraduates to study in Scotland's second city. Officials explained that the development is expected to be finished in time for the start of the 2015/16 academic year with the new intake of students starting their further education then.
Paul Houghton from Downing said: "Glasgow is an exciting city with a burgeoning student population and we’re delighted to be making strides on this ambitious scheme, which will revitalise this area and help to address the pressing need for quality student accommodation in the city."
Student accommodation has been the focus of a lot of work in Scotland recently with Unite announcing that it had purchased land to build student halls in the heart of Aberdeen. The student accommodation specialists bought a 120,000 sq ft site at a development cost of around £20 million.
The company is aiming to have the project to be completed in late 2014 and is looking to achieve a 9.5 per cent to ten per cent yield on the scheme. Like with Glasgow it is designed to attract more students to study north of the border and there are many plus points for the Aberdeen development. It provides good transport links to the University of Aberdeen and Robert Gordon University allowing great flexibility for students of either institute.
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