Watkin Jones has agreed a joint venture with Maslow Capital to deliver a £182m purpose-built student accommodation (PBSA) scheme in Glasgow.
The project, known as The Ard, will provide 784 student beds, including ensuite cluster beds, studios and non-ensuites.
The Ard is located between Glasgow city centre and the West End, less than 10 minutes by public transport from both the University of Glasgow and the University of Strathclyde.
The scheme is aiming for BREEAM Very Good, EPC B and WiredScore Silver ratings.
George Dyer, group investment director at Watkin Jones, said: “This exciting new partnership with Maslow Capital reflects the strength of our proposition to institutional capital, leveraging the depth and quality of our purpose-built student accommodation offering in the UK.
“The fundamentals underpinning UK student accommodation remain compelling, with robust demand and supportive demographics.
“We are excited to collaborate on this standout project, which will deliver a high-quality sustainable development in a prime university location.”
Rachael Gordon, head of deal execution (UK & Europe) at Maslow Capital, said: “Student accommodation continues to demonstrate resilient fundamentals, with strong demand across key UK cities outpacing available supply.
“Glasgow is a prime example of this imbalance, making it a highly attractive market for investment.
“We are pleased to support Watkin Jones with funding that will deliver much-needed capacity in one of the country’s leading student centres.”
Sky Mapson, senior director, origination at Maslow Capital, said: “Maslow Capital has a longstanding record of partnering with top developers across the living sector to deliver placemaking schemes.
“In Watkin Jones we see a sponsor with clear delivery discipline and operational know-how.
“Our role is to provide certainty of funding so the team can focus on execution and timely delivery for Glasgow’s students.”
