Glasgow-based developers, Ambassador Group, have partnered with Singapore-based investors, established real estate companies Far East Orchard and Woh Hup, to deliver a prime student accommodation scheme. The development will be funded by the investors and is slated for completion by 2026. The announcement marks a significant milestone in the Group’s Nova Living concept, which obtained planning permission for its first purpose-built student accommodation (PBSA) scheme in November 2023.
The vacant site situated on the corner of Osborne Street and Old Wynd in Glasgow’s Merchant City will be transformed into a vibrant, community-focused environment for students. The project will deliver 273 high-quality student beds within a community-focused ‘connected’ environment that boasts state-of-the-art resident amenities, including a student lounge, gymnasium, and a large south-facing terrace with views towards the River Clyde.
The firms will work together to deliver this flagship project as part of a new forward-thinking PBSA strategy within Nova Living. This strategy aims not only to address the shortage and growing demand for quality student housing in the UK’s university cities but also to set a new standard for thoughtful, quality living in urban environments.
Ahsan Afzal, Head of Development for Ambassador’s Nova Living, said, “We are delighted to have Far East Orchard and Woh Hup, both industry leaders within the sector, invest in this development. Our development will provide much-needed student beds in an acutely undersupplied market, with a shortage of 22,000 beds. Our shared values in the sector have driven the relationship from the outset, and we look forward to embarking on this exciting journey with our new global partners. We are entirely committed to delivering sustainable living solutions that prioritize the well-being and connectivity of residents.”
