A GLASGOW property developer has struck a £500 million deal with a US investor which will see it build 5,000 student accommodation beds around the UK, writes Scott Wright.
Structured House Group will also source land and deal with the planning processes under the partnership with Chicago-based Harrison Street Real Estate, announced yesterday. Work on the first project is under way on the site of Scotway House on the north bank of the Clyde in Glasgow, which will provide around 400 beds.
Around 300 people are expected to be employed on its development, with two restaurants, a library and study and screening rooms among plans for the building. It is expected to be ready in time for the 2019 academic year.
Further projects are planning for Dundee, Edinburgh, Manchester, Plymouth and Liverpool, while sites are also being assessed in Germany, Austria and Portugal.
SHG chief executive Craig Inglis said: “This is a major moment for SHG and a great example of a Scottish company attracting major investment, giving us the scale and ability to perform on a global platform.
“This joint venture will significantly boost the amount of accommodation and living space for students, as well as bringing jobs and prosperity to every city we enter.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here