MRP is seeking a forward-funding partner for a 432-bed purpose-built student accommodation (PBSA) scheme in central Glasgow.
Broadway Central is situated on the corner of Renfield Street and Renfrew Street and comprises 154,139 sq ft within a 16-storey building.
MRP is targeting a BREEAM Excellent rating for the development and work is due to start on site in June 2024, with completion set for the start of the 2026/27 academic year.
Jamie Radcliffe, associate in the operational capital markets team at Savills, which has been appointed to market the opportunity, said: “Broadway Central is a unique opportunity to forward-fund a 432-bed student scheme in a highly sought after and critically undersupplied market. The proposed development will be delivered by an award winning developer to a high quality specification, with over 5 sq m of amenity provision per bed.
“Currently there are more international students attending Universities in Glasgow than there are available beds and with over 75% of full time students unable to access PBSA, Broadway Central represents a rare opportunity to meet this demand in the third largest student city in UK.”
