Glasgow-based developer Ambassador Group has partnered with Singapore-based property investors Far East Orchard and Woh Hup to deliver a new student accommodation scheme in the city.
The development will be funded by the investors and is 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 scheme in November 2023.
The vacant site on the corner of Osborne Street and Old Wynd in the Merchant City will be turned into a building with 273 student beds and amenities including a lounge, gym and south facing terrace.
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.”
Separately, student accommodation developer and operator Valeo Management Europe has outlined plans for a mixed-use development that will deliver approximately 500 new student rooms, as well as ground floor commercial units, on Carrick Street in Broomielaw.
If consented and built, the site will be operated by Veleo’s operating arm, LIV Student.
This brownfield site is currently home to the vacant headquarters of GAP Group and plans are designed to complement the wider regeneration of the River Clyde waterfront.
The proposals also retain the Glasgow City Mission building, which had been earmarked for demolition as part of previous plans for a new office development on the site.
A Proposal of Application Notice (PAN) has been submitted to Glasgow City Council, kickstarting the 12-week minimum pre-application consultation period. The first of two consultation events will take place on 18 June at Box Hub on Washington Street.
David Saunders, managing director at Valeo Management Europe, said: “The Broomielaw and wider River Clyde waterfront is undergoing significant transformation, and we hope that our plans will go somewhere to supporting this transition as well as providing much needed student rooms in Glasgow.
“We look forward to engaging with local residents and other interested parties over the coming months as we develop our exciting new plans for Carrick Street.”
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