Unite Students, the UK’s leading developer and manager of student accommodation, has received planning approval for the development of a one acre site in the centre of Aberdeen. Completion of the site is expected in time for the 2016/17 academic year, and will provide a home for 399 students.
The 120,000 square foot scheme is expected to have a development cost of c. £20 million and deliver a development yield in line with Group target levels. The site was acquired from Aberdeen City Council and is currently occupied by a derelict, listed school building. The development will include the refurbishment of the school, which will house 16% of bedrooms, with the remaining rooms being built in an adjacent six storey property.
Situated in the centre of Aberdeen, the development is in close proximity to the University of Aberdeen and has good transport links to Robert Gordon University. Additionally, the wholly owned site is located within the main cluster of existing student accommodation around King Street, including Unite’s existing property, Spring Gardens and Mealmarket Exchange.