PROPERTY development specialist S Harrison has agreed a forward funding deal with Q Investment Partners (QIP) to deliver two major new purpose-built student accommodation (PBSA) schemes in Edinburgh.
S Harrison secured planning permission in 2022 for the two schemes on East Newington Place, off Newington Road, and a second project within the historic surroundings of Canongate, just behind the Royal Mile.
The two developments will offer a total of 141 studio rooms, along with amenity space.
In Canongate, S Harrison has secured planning permission for the partial demolition of existing buildings and the delivery of 76 studio rooms. The East Newington Place development has seen an old, disused commercial unit demolished and the site will now be redeveloped into a four-storey building with 65 studio rooms.
Both projects will also offer separate study rooms, multimedia rooms, gyms, break out space, cycle storage and open courtyards.
These latest Edinburgh developments mark S Harrison’s second deal with Singapore-headquartered QIP, with the company also forward funding one of the developer’s York PBSA schemes, which is currently under construction.
David Clancy, from S Harrison, said, “We were keen to grow our relationship with QIP after working with them on our York development, and they quickly recognised the excellent opportunity our Edinburgh sites offer and we are delighted to have concluded these deals with them. Both schemes are very well-designed and in highly sought-after locations really close to the university, which will make them extremely popular with students.
“Construction work at East Newington Place will start in the coming months, with the scheme complete and ready for the 2025 student intake. We also expect demolition work to begin imminently at Canongate, with the development ready to open for the start of the 2026 academic year.”
Peter Young, CEO and co-founder of QIP, said, “This latest venture marks our ongoing strategic collaboration with S Harrison, our second partnership with them, underscoring QIP’s unwavering dedication to the UK PBSA sector. Leveraging our fully-integrated platform, we are able to meet the rising demands for top-tier student accommodation, and our partnership with S Harrison highlights our commitment to delivering exceptional projects that align with the evolving needs of the market. We look forward to exploring more opportunities together.”
