Crosslane Student Developments, part of the Crosslane Group, is pleased to announce that its latest student accommodation development, The Old Printworks, Edinburgh, has been completed in time for the 2017/18 academic year on behalf of the Unite Group. The total development value of the property is approximately £31 million. The development is fully let for the 2017/18 academic year.
The Old Printworks is located in central Edinburgh, a short walk from the University of Edinburgh campus and close to the historic Royal Mile. Work on the development began in January 2016 and the building celebrated a successful topping out ceremony in March 2017. The new, purpose-built, high specification, city centre scheme comprises 44 studio apartments and 193 beds in clusters of between three to nine flats over 5 storeys. Students can also enjoy a range of high quality communal facilities including a common room, meeting space, laundry facilities, gym and bike storage. The contractors for the project were Ogilvie Construction.
Crosslane first entered the Edinburgh market in 2011, successfully advising on the purchase of Meadow Court, a 148 bed student accommodation property on Sciennes in Edinburgh. Since then, Prime Student Living, the student accommodation lettings and operational management arm of the Crosslane Group, has managed Meadow Court and together with McLaren Property in August 2017 announced details of the high-specification refurbishment of the entire development.
In August 2017, Crosslane secured planning consent for the development of an 83 bed purpose-built student accommodation project on Calton Road, conveniently located nearby to Holyrood Park, one of the city’s premier beauty spots. The high specification studio development will accommodate students within a stone’s throw of some of Edinburgh’s foremost attractions and points of interest, including St Anthony’s Chapel, the Salisbury Crags and the park’s highest peak, Arthur’s Seat.
Edinburgh is a popular student city and is home to approximately 49,000 full time students, with the University of Edinburgh ranked in the top 20 of The Sunday Times and The Guardian university league tables. There is a severe lack of quality purpose-built student accommodation in the city and Crosslane is committed to seeking to identify and develop new student accommodation to help ease the supply demand imbalance.
Jon Stewart, Director of Crosslane Student Developments, said:
“Crosslane is delighted to have developed The Old Printworks student accommodation scheme in central Edinburgh, on behalf of Unite. The development has been completed on budget, ahead of the start of the academic year and is fully let.
“Understanding the needs of students is vital to Crosslane’s established track record and the fact it is fully let is testament that The Old Printworks provides the facilities and services that students want and helps to meet the demand for purpose-built, high-quality, student accommodation in this popular student city.”
Donald MacDonald, Managing Director, Ogilvie Construction, said:
“Our teams at Ogilvie are specialists in building student accommodation and have delivered another quality building, constructed to the highest standards. It provides a premium living environment for students studying in Edinburgh.”