SPS Group, Yorkhill PBSA, Glasgow
Investment £1.8m | 99 Beds
Size: 50-150 homes
HGP invested £1.8m alongside partner SPS Group, supporting the development of a 99 bed Purpose Built Student Accommodation (“PBSA”) scheme in the Glasgow suburb of Yorkhill.
SPS Group are an experienced property developer and investor, with a particular focus on urban developments in Glasgow across commercial and residential.
The site is located in Yorkhill, less than 10 minutes walk from the University Of Glasgow’s new £1bn campus and the student area of Finnieston. The Glasgow PBSA market has strong fundamentals with a structural undersupply of PBSA beds (currently unmet demand for over 10,000 beds) driving attractive rental growth and strong investor appetite for PBSA assets in the city.
The development will deliver a 99 bed PBSA block which incorporates a number of premium communal spaces including lounge / café, cinema room and gym.
HGP’s total investment of £1.8m will support both the development of the scheme and hold costs during a rental stabilisation period ahead of planned sales to the investment market.