Maven & IP Investment Management agree deal to build Stirling’s first purpose built student accommodation
The new build development will bring 207 new beds to Stirling’s underserved and over-stretched market.
Maven will act as the asset manager on behalf of Hong Kong based IPIM to deliver the project in conjunction with development manager Whiteburn Projects Limited and senior debt finance from The Royal Bank of Scotland.
The 207-bed facility will be located on the banks of the River Forth near Stirling City Centre, Scotland, and within easy commute of the out-of-town campus of the University of Stirling. The site is located only 250m from the main railway station and sits on the dedicated bus route to/from the university campus, which runs up to 19 buses per hour.
Forthside Way will become the first PBSA in Stirling with currently no other alternative in the city centre, and will help address the acute shortage in accommodation for the substantial student population of circa 10,000. Construction is due to commence in spring 2018, with the complex due to be open in time for the start of the 2019/20 academic year.
The development will be set across two buildings and comprise of 123 studios, 8 one-bed apartments, and 76 two and three-bed cluster flats. Residents at Forthside Way will also benefit from extensive communal facilities which include a cinema, gym, games room, laundry and several private/group study rooms.