Watkin Jones has entered into a joint venture (JV) with Maslow Capital to deliver a 784-bed purpose-built student accommodation (PBSA) scheme in Glasgow.
The development, named The Ard, is expected to reach a Gross Development Value (GDV) of £182 million upon stabilisation.
This marks the first collaboration between Watkin Jones and Maslow Capital. The Ard will provide a mix of ensuite cluster beds, studios, and non-ensuite rooms, catering to the growing demand for high-quality student housing in Glasgow.
Strategically located between Glasgow city centre and the West End, the scheme is less than ten minutes by public transport from both the University of Glasgow and the University of Strathclyde, two of the city’s leading universities.
In line with Watkin Jones’ commitment to sustainability, The Ard is targeting BREEAM Very Good, EPC B, and WiredScore Silver certifications, reflecting the company’s high environmental standards.
George Dyer, Group Investment Director at Watkin Jones, said: “This exciting new partnership with Maslow Capital reflects the strength of our proposition to institutional capital, leveraging the depth and quality of our purpose-built student accommodation offering in the UK. The fundamentals underpinning UK student accommodation remain compelling, with robust demand and supportive demographics. We are excited to collaborate on this standout project, which will deliver a high-quality sustainable development in a prime university location.”
Rachael Gordon, Head of Deal Execution (UK & Europe) at Maslow Capital, added: “Student accommodation continues to demonstrate resilient fundamentals, with strong demand across key UK cities outpacing available supply. Glasgow is a prime example of this imbalance, making it a highly attractive market for investment. We are pleased to support Watkin Jones with funding that will deliver much-needed capacity in one of the country’s leading student centres.”
Sky Mapson, Senior Director, Origination at Maslow Capital, commented: “Maslow Capital has a longstanding record of partnering with top developers across the living sector to deliver placemaking schemes. In Watkin Jones we see a sponsor with clear delivery discipline and operational know-how. Our role is to provide certainty of funding so the team can focus on execution and timely delivery for Glasgow’s students.”
