Unite Students to buy 800-bed Glasgow scheme
- Unite Students enters into option agreement to acquire 800-bed Glasgow project
- £95million central Glasgow development to add to the Group’s 3,000-bed portfolio in the city
- The company aims for planning approval in the first half of next year for 2026/7 academic year delivery
Unite Students, the UK’s largest provider of student accommodation, is progressing with the purchase of a new 800-bed Glasgow project.
The company has entered an option agreement to acquire the new £95million city centre development, subject to planning.
The Group, which currently has 3,000 beds in the city, expects to deliver the scheme as a university partnership with at least half of the beds to be let on a multi-year nominations agreement to a leading university.
Planning approval is aimed for the first half of next year, enabling delivery for the 2026/27 academic year. The Group expects to fund the project from capital recycling through the disposing of properties in its portfolio.
Michael Burt, Unite Students Group Investment Director, said:
“Our latest development will create new supply of high quality, affordable student accommodation in Glasgow to support the continued growth of our university partners.”