Henderson Park has agreed a forward funding deal with Alumno Group on a 453-bed purpose-built student accommodation (PBSA) portfolio in Scotland.
The portfolio comprises two PBSA schemes with planning consent in the Russell Group university cities of Edinburgh and Glasgow.
The 191-bed Jock’s Lodge development in Edinburgh is located 1.9 miles from the University of Edinburgh and the 262-bed St George’s Road scheme in Glasgow (pictured) is located 0.8 miles from the University of Glasgow.
Both projects will offer amenities including on-site gyms, private study rooms, dining rooms, communal courtyards and rooftop terraces, alongside a diverse mix of room types to suit a range of student budgets.
Alumno Group will be responsible for the delivery of both projects with practical completion expected in time for the start of the 2027-28 academic year.
Christophe Kuhbier, head of investments, Europe, at Henderson Park, said: “This transaction represents a rare opportunity to secure two derisked purpose-built student accommodation assets in prime, undersupplied locations at the last stage of their development cycle and at an attractive all-in entry cost.
“With international students continuing to be drawn to the UK’s world-leading universities, combined with a growing domestic student-age population, we believe the structural supply-demand imbalance is set to intensify over the coming years. Partnering with Alumno Group, a highly experienced developer with a proven track record in this sector, gives us confidence in the delivery of two high quality, market-leading assets that will meet student expectations.”
David Campbell, founder and managing director of Alumno Group, added: “We are delighted to be working in partnership with a company as highly regarded and respected as Henderson Park, having built up a strong working relationship with the team, and we look forward to building on this exciting chapter for the company”
