Firethorn trust completes first PBSA acquisition as Living platform

Privately-owned real estate developer, investor, and asset manager, Firethorn Trust, has announced the acquisition of a purpose-built student accommodation (PBSA) site in Leith, Edinburgh, under its Living platform.

As part of the Leith Walk regeneration scheme promoted by Calder Weir Properties, the purchase includes planning permission for a PBSA block and three commercial units.

Firethorn plans a six-story development with 230 student beds, a gym, study spaces, and common rooms. Construction starts in summer, targeting completion in 2026/27.

Enhanced with AI, the design incorporates sustainable elements for BREEAM 'Excellent' and EPC 'A' ratings, including PV panels.

This marks Firethorn's first deal under its Living platform, launched in 2023 with Marcus Weeks as Director and Head of Living.

"Previously an underutilised brownfield site, the scheme is located in an area that continues to be the focus of major investment, driven by the recent opening of an adjacent tram line, which has significantly enhanced connectivity to the centre of Edinburgh.

"As our first acquisition for Firethorn Living, the scale and quality of this project represents our ambitious strategy to invest in prime university cities and help to address the growing supply and demand imbalance for modern student accommodation, whilst making a positive contribution to local regeneration.

"Firethorn is very well capitalised, and our dedicated, in-house Living and development teams are actively seeking more deal opportunities in the sector to add to our growing pipeline. The PBSA and Build to Rent markets offer strong potential for growth and we look forward to expanding our portfolio with future acquisitions in prime locations across the UK."

Marcus Weeks, Director and Head of Living, Firethorn Trust