Balfour Beatty look set to enter the student accommodation market after securing finance for its first development in Glasgow.
Investec Bank have backed the bid which will become Balfour's first foray into the direct-let student market. The project is a 536 bed development spread across 2 blocks comprised of studio apartments and cluster flats.
Investec's Structured Property Finance team specialises in student accommodation and Mark Bladon (a member of the team) has said that it was 'very rewarding' working with Balfour Beatty on its new plans.
Investment Director at Balfour Beatty Investments, Mark Woosey, has said, Â“From our wide ranging experience of working in this sector, we believe there is a good demand for high quality, purpose built cluster flats and studios in this part of Glasgow. The residences will be marketed direct to students later in the year and will be available for the September 2017 student intake.Â”