Covid-19 Impacts PBSA Valuation
27th Jan 2021
Work has finished on a major student accommodation development in Edinburgh.
The £23 million development known as Haddington Place provides accommodation for 240 students and was formerly part of Edinburgh's original Botanic Gardens.
The scheme was developed by S Harrison and funded by M&G Real Estates and includes facilities such as a gym, study areas, cycle storage, and cinema lounge. In addition to the student housing, the scheme also provides three retail units on the ground floor, covering a total of 6,500 square feet.
David Clancy from S Harrison said: "Haddington Place is specifically designed to offer students a contemporary home with a superb level of specification in terms of design, facilities, and furnishings. The development is in a great location, just a mile from the University of Edinburgh's main campus, it's close to the popular Broughton Street area, and surrounded by shops, cafes and bars."
According to the developers more than 200 students reserved their places prior to work being complete.
Commenting on the development Dermot Kiernan on behalf of M&G Real Estate said: "Aside from the obvious supply/demand fundamentals, the defensive aspects of student accommodation as a property portfolio diversifier and its alternative use value as residential are also compelling."
27th Jan 2021
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