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UK: Henderson Park has signed a forward funding deal with Alumno Group for a 453-bed purpose-built student accommodation (PBSA) portfolio in Scotland.
The portfolio comprises two consented PBSA schemes in Edinburgh and Glasgow. The 191-bed Jock’s Lodge development in Edinburgh is 1.9 miles from the University of Edinburgh and the 262-bed St George’s Road scheme in Glasgow is 0.8 miles from the University of Glasgow. Both projects will offer amenities including 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,” he added.
David Campbell, founder and managing director of Alumno Group, said: “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.”
Highlights:
• Henderson Park has signed a forward funding deal with Alumno Group for a 453-bed purpose-built student accommodation (PBSA) portfolio in Scotland
• The portfolio comprises two consented PBSA schemes in Edinburgh and Glasgow
• 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
