Aviva Investors, the global asset management business of Aviva plc, announces it has acquired a purpose-built student accommodation (PBSA) property in Glasgow for £23 million, as it continues to grow its strategic asset allocation to UK living.
Completed in January 2024 and fully-let for the 2024/2025 academic year, 31 Gilbert Street is a 99-bed, all-studio development which offers rooms varying from 17 square metres to 29 square metres in size, including a number of accessible rooms. The development also offers student residents an on-site gym, whilst also benefitting from access to a communal lounge, cinema room and external courtyard.
The property holds an EPC rating of ‘A’ and has no fossil fuels on site, having been built with all-electric solutions and air source heat pumps for its ongoing energy and heating needs. There is also has scope to add roof-mounted photovoltaic (PV) solar panels.
In keeping with Aviva Investors’ strategic focus on multi-university cities with strong market dynamics, 31 Gilbert Street sits in the west end of Glasgow and is an 11-min walk to the University of Glasgow, one of the UK’s 24 Russell Group universities recognised as being world-class, research-intensive institutions. Collectively, Russell Group universities produce more than two-thirds of the world-leading research produced in UK universities, support more than 260,000 jobs across the country and inject nearly £87 billion into the national economy every year.
Source: avivainvestors.com on the 26th of September, 2024
https://www.avivainvestors.com/en-gb/about/company-news/2024/09/aviva-investors-acquires-student-accommodation-asset-in-glasgow/