Glasgow property firm Maven’s student flats move to Dundee
Glasgow-based Maven Capital Partners, a leading UK property and private equity manager, and Glenmore Group, a London-based investment firm, have started work on a new purpose built student accommodation complex (PBSA) in Dundee.
The development site on the site of a former Hessian fabric factory is located between Douglas Street and Brown Street in the city center and has been vacant for several years. Full planning permission has been granted for 152 studio apartments and leisure spaces.
The property will be completed before the 2024/25 academic year.
The £19.9million development was funded in part by Glenmore, along with a bank facility from Puma Property Finance. Maven will act as asset manager for the project, which is being built by Aberdeen-based CHAP Group.
The project is less than 10 minutes’ walk from the University of Dundee and Abertay University campuses.
There will be a partially covered roof terrace on the top floor of the studios.
Maven has extensive experience in the PBSA sector and has developed, managed and operated a number of properties in many UK university cities including Glasgow, Edinburgh, Durham, Liverpool and Birmingham.
Commenting on the move, Paul Johnston, Partner at Maven said: “The PBSA sector has a history of low volatility and despite broader macroeconomic issues, such as B. the cost of living, we continue to see strong demand both domestically and internationally.”
Glenmore Student Property’s Andrew Whiteley said: “We are delighted to be working with Maven and the Chap Group to deliver a world class and much needed new PBSA program in Dundee.”
Scottish airport workers reject strike over pay dispute
Passengers have been warned they could face a summer of chaos after workers at Scotland’s largest airport supported a strike over pay disputes.
Unite selected 275 staff at Edinburgh Airport, including members from security, terminal operations and search areas. The union has confirmed that 85% of members supported the strike with a turnout of 75% and is now urging airport bosses to get back to the table with an improved wage offer to avoid disruption during the summer season.
Flights started from Glasgow to Southampton
Budget airline easyJet has launched a new route from Glasgow Airport.
The new year-round route to Southampton will launch for the first time this winter. Flights will start on November 2, 2023 with departures twice a week on Thursdays and Saturdays.
