Overview

£11 million follow-on loan to Glenmore Group to fund the development of a further 98 PBSA beds in Dundee. The development facility will support a phase two extension to the existing 152 bed scheme, funded by Puma in 2023, and will provide a much-needed supply of student beds in the city.

The scheme, Puma’s fourth with Glenmore, is conveniently located near to the city centre, minutes away from Dundee’s two universities, the University of Dundee and Abertay University. The all-studio accommodation will be adjacent to the existing Brown Street scheme which includes sought-after amenities such as cinema room, roof garden and gym, to meet growing student expectations.

With a record number of university applications and shortage of 230,000 student beds¹, PBSA developments are playing a significant role in addressing the acute demand and supply dynamics across the UK.

The phase one and two developments are expected to reach practical completion in summer 2024 and 2025, respectively, in time for the start of the academic year.

¹ Student beds shortage exceeds 230,000 (thetimes.co.uk)

² UK student accommodation poised for 4-6% rental growth – React News

Figures are subject to rounding.