£30 Million Investment Planned for Student Housing in Glasgow

The city of Glasgow is about to witness a transformation of an idle or underused building in the city centre. The latest news is that the office building is to be replaced with a PBSA or purpose-built student accommodation. 

The planning application for the project was submitted by Mosaic Architecture + Design for Courie Investments. The £30 million project is about to include 147 studio apartments in Glasgow with various features and amenities.

An assessment was made of the building, which showed structural faults before the plans for the investment set in and the decision to demolish it. 

According to Mosaic, “The new student accommodation will have high standards, plenty of accommodation mix, innovative spaces and will be designed for low energy operation as per the BREEAM (Building Research Establishment Environmental Assessment Methodology) rating.”

The location of the new student housing in Glasgow is very centric to the huge PBSA market investment by the group. The property is located on the corner of West George Street and Blysthwood Street. The building is adorned by the sight of Blythswood Square, Glasgow city centre conservation area.

According to Neil Haining, Director (Mosaic), “The design is at par with the immediate requirement. The massing and facades as per the proposal will add more to the beauty and rhythms of the building and the neighbourhood.”

Andrew White, Courie Investments, said, “The demand for student accommodation in Glasgow is very high. According to Savills PBSA market research, the crunch has led to 1 PBSA room being available for 4 students in 2023-2024.” He adds, “The project growth rate of student population in the region is 3.7% by 2032 with 3 largest institutions in Glasgow up with their strategic plans to attract more students in higher education.”

He further says, “The location of the student housing in Glasgow in the city centre will help the city’s council to envision its goal of 40,000 population by 2035 in the city.”

With the current trend in the student housing market and the latest news on PBSA, the growth is going to be exponential in the coming years. If you would like to reap the fruits, list your property with us today. You may stay connected with the market by amber news.