Ahli United Bank Acquire Durham Student Accommodation
25th Sep 2018
Maven Capital Partners and IP Investment Management (IPIM) are planning to deliver purpose-built student accommodation in Stirling.
Maven will act as the asset manager for Hong-Kong-based IPIM to complete the £18.2m development project in conjunction with Whiteburn Projects.
The scheme will consist of 207 beds and will sit on the banks of the River Forth. Set across two buildings, the development will consist of 123 studios, eight one-bedroom apartments and 76 two and three-bed cluster flats. The accommodation will also come equipped with communal facilities, including a cinema, gym, games room, and study areas.
Commenting on the project, investment director at Maven, Colin Anderson, said: "University of Stirling has reputation for its sporting excellence and there is strong demand for a number of its courses, a number of which are considerably over-subscribed."
"Despite this, Stirling has one of the most acute shortages of student accommodation in the country. With no private PBSA market to speak of in the city, Maven is delighted to be working once again with IPIM to greatly enhance the quality of the accommodation provision and play its part to help the university attract and retain the best students from the UK and further afield."
The scheme marks the seventh project for Maven with IPIM and combined they have delivered over 1,200 beds across the UK.
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