Bridgepoint Ventures has invested £2.6m to partner Seaforth Properties in a 116-room Glasgow student accommodation scheme.
The joint venture will convert a petrol station into a £9m five-storey building called Kelvin Grove.
Eric Jafari, chief executive of Bridgepoint Ventures, said: “Over the past two years, rental growth in the student housing sector has averaged 3-5% nationally, consistently above other sectors, and we do not see this trend changing soon. Furthermore, with an increase of 68% in overseas students in the past decade – another trend that appears set to continue – the market continues to look remarkably robust.”
Last year Bridgepoint invested £6.5m in a student accommodation scheme in Leicester.
Joanna.bourke@estatesgazette.com
