HUB and Bridges Fund Management are seeking a forward-funding partner for a £117.78m GDV, 632-bed purpose-built student accommodation (PBSA) scheme in Leith, Edinburgh.
The Shore Station PBSA development, which is on the former site of Leith Railway Station, comprises studios and cluster apartments, alongside one-, two- and three-bedroom apartments.
Designed by Michael Laird Architects, the scheme’s on-site amenity provision includes study rooms and booths, resident lounges, a cinema, gym and private dining rooms in addition to more than 4,550 sq m of outdoor amenity space.
Robert Sloss, CEO of HUB, said: “Edinburgh is one of the best student cities in the world, with fantastic universities and a brilliant lifestyle offering. It also has a clear need for more student accommodation, particularly of the quality that this scheme will deliver. Building on HUB and Bridges’ strong track record of delivering great places to live in strategic locations and with excellent amenities, Shore Station sets a new standard for student accommodation in the city.”
Simon Ringer, head of property funds at Bridges, added: “Bridges and HUB have a proud history of delivering high-quality, sustainable, lower-cost homes across the UK. With Shore Station, we are excited by the opportunity to transform this largely derelict site – minimising the embodied carbon of the scheme – into a thriving community of student housing, designed with extensive amenities and external green spaces that will promote better wellbeing and enhance the local area.”
Jamie Harris, head of PBSA at Harris Associates, which has been appointed to find a forward-funding partner for the development, said: “Shore Station is the most exceptional opportunity Edinburgh has seen for more than a decade. HUB and Bridges have spearheaded an unparalleled scheme, which will set a benchmark for student living in the city – featuring extensive green spaces and carefully curated design to maximise the student experience. This is an opportunity for investors to enter Edinburgh at substantial scale; the type of which may never be seen again.”
