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THE University of Glasgow and Plenary Group have entered into a joint venture partnership worth £180 million to fund and deliver the next phase of learning institute’s campus development programme.
Following a competitive tender process, Plenary was appointed to lead a consortium of strategic partners. The consortium comprises Plenary as developer and investor, Royal London Asset Management as the senior debt provider, and Arlington Collegiate UK as the student accommodation operator.
The partnership will initially deliver four significant projects, with a combined value of approximately £180 million. Together, these projects will continue the development of the university’s campus along Church Street in the west end of Glasgow.
The development aims to create high-quality residential accommodation for students and an opportunity for two purpose-built innovation hubs, designed to support spin-ins, spin-outs, start-ups and the commercialisation of the University of Glasgow’s research.
Glasgow City Council has approved planning consent for the first three projects, for student residence, and an innovation hub for dry lab/office space. The Church Street programme builds on more than a decade of investment in new facilities and a ‘cohesive urban environment’ across the University of Glasgow’s Gilmorehill campus.
The campus development programme has so far delivered four major new buildings – the James McCune Smith Learning Hub, the Mazumdar Shaw Advanced Research Centre, the Clarice Pears building, and the Adam Smith Business School building.
The university is also currently constructing the £300 million Keystone building, which when open in 2028, will become the second largest building on-campus – after the Gilbert Scott building.
Professor Andy Schofield, principal and vice-chancellor of the University of Glasgow, said,“We are delighted to partner with the Plenary-led consortium on the next stage of our landmark campus development programme. This phase builds on more than a decade of investment in our campus, creating world-class teaching, research, and social spaces alongside vibrant community areas.
“Through this development, we will bring our vision for Church Street to life; establishing a hub for collaboration, innovation, and partnership, where we work closely with partners to amplify the impact of our research.”
Plenary Group head of UK and Europe, Richard Osborne, added, “Plenary is delighted to be collaborating with the University of Glasgow and our consortium partners on our first project in Scotland. Our experience in forming long term partnerships with universities around the world makes us ideally placed to deliver the University’s vision for the campus development programme.”
