Local firm S Harrison has agreed a funding deal with Singapore based Q Investment Partners (QIP) in relation to two new purpose built student accommodation (PBSA) projects. This is the second time the developer has struck a deal with QIP which also financed a PBSA development in York which S Harrison is currently developing.
The schemes are situated on East Newington Place and Canongate and in total will comprise 141 studio rooms for students.
At Canongate the developer has permission secured in 2022 for 76 studio rooms which involves partial demolition of existing buildings. At East Newington Place the disused commercial unit on the site has already been demolished and the new four storey building will have 65 studio rooms.
The developer says both locations are handy for The University of Edinburgh, and both will offer “separate study rooms, multimedia rooms, gyms, break out space, cycle storage and open courtyards”.
David Clancy, from S Harrison, said: “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.
“Construction work at East Newington Place will start in the coming months, with the scheme complete and ready for the 2025 student intake. We also expect demolition work to begin imminently at Canongate, with the development ready to open for the start of the 2026 academic year.”
Peter Young, CEO and co-founder of QIP, said: “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. Leveraging our fully-integrated platform, we are able to meet the rising demands for top-tier student accommodation, and our partnership with S Harrison highlights our commitment to delivering exceptional projects that align with the evolving needs of the market. We look forward to exploring more opportunities together.”
S Harrison is behind several PBSA developments in the city, notably at Gillespie Crescent, and a residential development at Ocean Point 2 in Leith for which plans have just been lodged.
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