York-based developer S. Harrison has agreed a forward funding agreement with Singapore’s Q Investment Partners (QIP) to build two major new purpose-built student accommodation (PBSA) schemes in Edinburgh. did.
S Harrison Developments secures planning permission in late 2022 for two schemes at East Newington Place, off Newington Road, and a second scheme in Canongate, just behind the Royal Mile Did. The two developments will offer a total of 141 studio rooms and amenity spaces.
A contractor is expected to be appointed soon.
The total forward funding agreement for the two properties is worth £33 million.
These Edinburgh developments mark S. Harrison’s second contract with QIP, with the Singaporean backer also providing upfront funding for one of the developer’s York PBSA schemes currently being built by GMI Construction. There is. [See previous report here.]
In Canongate, S. Harrison secured planning permission for the partial demolition of the existing building and the delivery of 76 studio rooms. The site is opposite the University of Edinburgh’s Holyrood Campus.
The East Newington Place development will see abandoned commercial units demolished and the site redeveloped into a four-story building with 65 studio rooms. East Newington Place is close to the University of Edinburgh’s main city center campus.
David Clancy, director at S. Harrison, said: “We were keen to develop our relationship with QIP further after collaborating on the York development and they quickly recognized the great opportunities offered by our Edinburgh base and We are delighted to have entered into these deals with.” Both schemes are very well designed and are in highly sought after locations very close to the university, so they will be very popular with students.
“Construction work on East Newington Place will begin in the coming months, with planning completed and ready for students in 2025. Demolition work will also begin soon on Canongate. , development is expected to begin for the start of the 2026 academic year.”
These latest schemes make QIP’s UK portfolio its 11th asset to date and its fourth in the Edinburgh PBSA market. The company first entered the Scottish PBSA market in 2019, acquiring a 198-bedroom site on London Road, known as Straits Meadow.
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