The Unite Group plc, the UK’s leading developer and manager of student accommodation, has received planning consent for a 1.8 acre site on St. Leonard’s Street in central Edinburgh.
The development will provide 579 beds for the City’s students and is expected to be completed in the 2017/18 academic year.
The site, situated near to the central campus of the University of Edinburgh, is in close proximity to the city centre’s amenities and transport links. The location will also be convenient for students at other Edinburgh institutions including: Napier University, Herriot Watt University and Queen Margaret University.
The scheme will have a total development cost of around £41 million and is expected to deliver returns in line with Unite’s targets for regional development. The site is currently occupied by an 8,000 square foot retail unit which will be demolished to make way for the new development.
The new five storey property will be built in keeping with the surrounding architecture, and will house students in a mix of shared flats with communal living and kitchen areas, and self-contained studios. A 10,000 square foot retail unit will be provided at ground floor.
Unite Students operate five properties in Edinburgh providing a home for 717 students in the city. We have worked closely with the University of Edinburgh throughout the planning process and the new building will provide a home for the growing numbers of students in the city.
Richard Simpson, Managing Director of Property for Unite, commented: “We are delighted to have received planning consent for our new development in Edinburgh which forms part of our ongoing regional development plans already progressing well in areas such as Newcastle, Aberdeen and Coventry.
“Edinburgh is a thriving university city and a great home for students, who continue to be important contributors to the local economy. This new student home will provide high quality, safe and secure accommodation for students and will help ease pressure on private residential housing in the area.”