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Investors Required for 100-bed Aberdeen Scheme

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Investors are being sought to purchase a student accommodation development situated next to Aberdeen University's main campus.

West Coast Estates (WCE) aims to deliver a mix of accommodation which would appeal to a range of students from undergraduates to international post-graduates.

The 500 King Street scheme, will consist of 100 student bedrooms, a gym, cinema, communal lounge and a "secret garden".

Planning permission for the site was obtained in March, with construction expected to be complete in time for the 2018-19 academic year.

Commenting on the development, WCE director Iftikar Mian, said: "With the university set in Aberdeen's old town, opportunities to develop large-scale, modern student accommodation are rare.

"This is likely to be the last feasible opportunity and are delighted to offer this to the investor community. We believe it is excellently placed to achieve an above average rental and occupancy performance."

Mr Mian suggested the scheme would be defined by its quality and quantity of landscaping, as well as the external amenities it will provide to students. He added: "This will significantly exceed what is available within other competitive schemes within the city."

WCE is a family-owned company that operates in commercial and residential development and was established by Mr Mian and his brother in 1991.