A multi-million funding deal has been agreed to support the development of a new student housing scheme in Glasgow,
London-based Beaufort Capital Management is backing the 301-bed project on Dunblane Street which is being built by the Soller Group in conjunction with the Royal Conservatoire of Scotland (RCS).
Beaufort has provided a £5.5 million mezzanine finance facility for the development which is the second project it has supported in Glasgow this year and the third in Scotland after a deal to back a housing scheme in Edinburgh.
Mark Quigley, managing director for UK real estate finance at Beaufort, said: “It will be a first-class student accommodation development which will include a considerable number of amenities for the benefit of students at the world-renowned RCS and is a further significant investment in Scotland for Beaufort.”
The project will provide students with facilities including sound-proofed music practice rooms, dance studio, gym, cinema room and study halls.