S Harrison secures funding for two student accommodation developments in Edinburgh
The two developments will together deliver 141 studio bedrooms.
The property developer S Harrison has inked a deal with the Singaporean private equity firm Q Investment Partners (QIP) to fund the delivery of two purpose-built student accommodation (PBSA) developments in Edinburgh.
The first development is the redevelopment of a now-cleared site on East Newington Place (close to the University of Edinburgh's central campus) into a new four-storey building providing 65 studio bedrooms. The scheme is set to complete in time for the 2025 academic year.
The second development (pictured) is the conversion of a historic building off the Canongate (in close proximity to the University of Edinburgh's Holyrood Campus and other university facilities) into 76 studio rooms. Work is set to begin imminently, with the development to open in time for the 2026 academic year.
The two developments mark S Harrison's latest investment in Edinburgh, with other live projects including the conversion of a 1970s office building in Haymarket into a MEININGER hotel and a residential-led development in Leith. S Harrison has also previously delivered multiple PBSA developments in Edinburgh.
“We were keen to grow our relationship with QIP after working with them on our York development, and they quickly recognised the excellent opportunity our Edinburgh sites offer and we are delighted to have concluded these deals with them. Both schemes are very well-designed and in highly sought-after locations really close to the university, which will make them extremely popular with students."
- David Clancy, Director, S Harrison
The developments also mark an expansion in Edinburgh by QIP, which first entered the market in 2019 with the acquisition of Straits Meadow, a 198-bedroom PBSA development on London Road.
“This latest venture marks our ongoing strategic collaboration with S Harrison, our second partnership with them, underscoring QIP's unwavering dedication to the UK PBSA sector."
- Peter Young, Chief Executive Officer and Co-Founder, Q Investment Partners