Maven and Glenmore’s £19m Dundee student housing project underway

Maven and Glenmore's £19m Dundee student housing project underway

A computer generated image of the development

Property and private equity manager, Maven Capital Partners, and London-based investment firm, Glenmore Group, alongside Aberdeen-based construction firm CHAP Group, have commenced construction on a new £19 million purpose-built student accommodation (PBSA) complex in Dundee’s city centre.

The project, termed the Hessian Student Accommodation, is being supported by Axiom Project Management, CAG Architects, Indev Consult and Hutcheon Services.

Named after the hessian fabric factory formerly located on the development site it is located between Douglas Street and Brown Street in the heart of the city centre.

Full planning permission has been granted for 152 new PBSA studios, plus amenity spaces. Construction started in May 2023 and the property will be completed ahead of the 2024/25 academic year.

Paul Johnston, partner at Maven, said: “The PBSA sector has a history of low volatility and, despite wider macro-economic issues, such as the cost of living, we are continuing to see strong appetite from both domestic and international students to continue their education in Dundee and to be able to access high quality accommodation which meets the expectations and needs of today’s students.

“Dundee is a vibrant international city, which has undergone a transformative regeneration in recent years, including the £1 billion Waterfront Project.

“Coupled with our experience at Marketgait in Dundee, as well as the many other PBSA development we have worked on throughout the UK, we are excited to be delivering a high quality, stylish studio product that is in particularly short supply.”

CHAP Group’s managing director Hugh Craigie said: “The Hessian Student Accommodation Project is a significant addition to CHAP Group’s portfolio and is part of our ambitious growth plans as we move into a new geographical area.

“We are thrilled to have been chosen as main contractor for this exciting project and to have the opportunity to work with such esteemed partners.

“This is a significant and valued opportunity for CHAP Group, and we look forward to proving our capabilities and expertise in the student accommodation sector.”

Andrew Whiteley, from Glenmore Student Property, added: “We’re absolutely delighted to be working with Maven and Chap Group to deliver what will be a best in class and much needed new PBSA scheme in Dundee.”

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