GLASGOW-based developer Ambassador Group has teamed up with investors Far East Orchard and Woh Hup to deliver a ‘prime’ student accommodation scheme, slated for completion by 2026.
The announcement marks a milestone in the group’s Nova Living concept, which obtained planning permission for its first purpose-built student accommodation (PBSA) scheme in November 2023.
The vacant site on the corner of Osborne Street and Old Wynd in Glasgow’s Merchant City will be transformed into a new community-focused environment for students. The project will deliver 273 beds within a ‘connected’ environment that boasts amenities including a student lounge, gym, and south facing terrace with views towards the River Clyde.
The firms will work together to deliver the project that aims to address the shortage of student housing and set a new standard for ‘thoughtful, quality living for all in urban environments’.
Ahsan Afzal, head of development for Ambassador’s Nova Living, said, “We are delighted to have Far East Orchard and Woh Hup, both industry leaders within the sector, to invest in this development. Our development will provide much needed student beds in an acutely undersupplied market, with a shortage of 22,000 beds.
“Our collective shared values in the sector have driven the relationship from the outset, and we look forward to embarking on this exciting journey with our new global partners to deliver on the first project within Nova Living, where we are entirely committed to delivering sustainable living solutions that prioritise the well-being and connectivity of residents.”
