Ogilvie Construction has started site operations on an £18.2 million development to create Stirling’s first purpose built student accommodation (PBSA) building for Maven Capital Partners (Maven).
The high quality 207 bed facility at Forthside will provide a range of accommodation and sizes and is to comprise 123 studios, 8 one bedroom apartments and 76 two and three bed en-suite cluster flats. As well as easy access to the town centre and it’s transport links to the University, the new building will have extensive communal facilities including a cinema, gym, games room, laundry, as well as several private and group study rooms.
Donald MacDonald, Managing Director, Ogilvie Construction, said:
“We are proud to have been chosen to deliver bespoke student accommodation building that will offer much needed high quality living for Stirling students. Our team has extensive experience and expertise in this sector and has successfully completed a number of similar projects around the country.”
Paul Johnston, Investment Director at Maven, said: “Stirling has one of the most acute shortages of student accommodation in the UK, with no private PBSA market to support the continued growth of the university. Maven is excited to be working on this landmark development which will help ease pressure on local housing stock and assist the University of Stirling to continue to attract the highest calibre students and postgraduates to the city. We are also very pleased to be once again working with Stirling-based Ogilvie Construction and their supply chain to the benefit of the local economy..”
Ogilvie Construction is part of the Ogilvie Group is one of Scotland’s most consistently successful family owned businesses. The company is over 60 years old and employs more than 500 people across its various business operations in the UK.
Maven Capital Partners UK LLP (Maven) is an independent private equity and property manager, focused on the provision of growth capital to SMEs across the UK, as well as funding a range of attractive property investments. Maven has developed a track record in the hotel, student accommodation and office space sectors, sourcing and structuring transactions with a gross development value of up to £30 million. Headquartered in Glasgow, and with ten other offices throughout the UK, Maven manages over £415 million of assets for a variety of client funds.