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Maven Acquires Edinburgh Development Site

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Maven Capital Partners has acquired a prime student development site in Edinburgh's West End.

Located close to Haymarket, Murieston Crescent has strong transport links to Heriot-Watt, Napier and Edinburgh universities.

The site was purchased for £2.8 million from the wealth management firm The Route Finance.

The site already benefits from planning permission for a 120-bed purpose-built student accommodation (PBSA) scheme, which includes 108 studio apartments and 12 ensuite cluster flats. The £15m project is due to be complete by the summer of 2022.

The project marks Maven's 14th PBSA development, with other properties in cities such as Glasgow, Dundee, Durham, Liverpool and Birmingham.

Commenting on the announcement, Maven partner Colin Anderson, said: "We are confident that any uncertainties around academic start dates will only have a short-term impact while markets normalise and, once global travel restrictions lift, we will once again see the UK, and in particular Edinburgh, as one of the world's most popular hotspots for overseas students."