UNITE Students has confirmed that it is progressing with the purchase of a planned 800-bed student accommodation project in Glasgow.
The student accommodation provider, which currently has 3,000 beds in the city, has not named the scheme but confirmed that it has entered an option agreement to acquire the £95 million city centre development, subject to planning.
Unite Students added that it 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, it said. The group added that it 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.”
