Henderson Park, the international real estate investment manager, has agreed to forward fund a 453-bed purpose-built student accommodation (“PBSA”) portfolio from specialist UK-based PBSA developer, Alumno Group.

The portfolio comprises two development projects with planning consent in the Russell Group university cities of Edinburgh and Glasgow.

  • Jock’s Lodge, Edinburgh: A 191-bed asset located 1.9 miles from the University of Edinburgh (ranked 5th in the UK and 27th globally) in the Meadowbank suburb and within easy reach of the city centre and its many renowned universities and colleges, as well as Holyrood Park and the famous Arthur’s Seat.
  • St George’s Road, Glasgow: A 262-bed development located 0.8 miles from the University of Glasgow (ranked 11th in the UK and 78th globally) and within walking distance of Glasgow Caledonian, University of Strathclyde, the Glasgow School of Art and the City of Glasgow College. Situated in the vibrant Woodlands district, in the sought-after west end student neighbourhood, the property offers proximity to shops, bars, restaurants and cultural venues.

Alumno Group, which will be responsible for the delivery of both projects, is an experienced PBSA developer, with a proven track record of delivering over 8,500 beds across the UK. Practical completion is expected in time for the start of the 2027-28 academic year.

Targeting BREEAM Excellent and EPC A ratings, both projects have been designed to the highest sustainability standards and offer amenities including on-site gyms, private study rooms, dining rooms, communal courtyards and rooftop terraces, alongside a diverse mix of room types to suit a range of student budgets.

Edinburgh and Glasgow both have a high student-to-bed ratio and are ranked among the UK’s most undersupplied PBSA markets. Serving Edinburgh and Glasgow’s full-time student populations of, according to Savills’ 2023 UK PBSA Spotlight, c. 75,000 and c. 78,000 respectively. The two sites are ideally positioned to capitalise on the depth of demand from international students attending each city’s flagship universities, as well as further domestic demand, as the UK’s 18-19 year-old population is projected to reach a record 1.7 million by 2030.

Christophe Kuhbier, Head of Investments, Europe, at Henderson Park, commented: “This transaction represents a rare opportunity to secure two derisked purpose-built student accommodation assets in prime, undersupplied locations at the last stage of their development cycle and at an attractive all-in entry cost. With international students continuing to be drawn to the UK’s world-leading universities, combined with a growing domestic student-age population, we believe the structural supply-demand imbalance is set to intensify over the coming years. Partnering with Alumno Group, a highly experienced developer with a proven track record in this sector, gives us confidence in the delivery of two high-quality, market-leading assets that will meet student expectations.”

David Campbell, Founder & Managing Director of Alumno added: “We are delighted to be working in partnership with a company as highly regarded and respected as Henderson Park, having built up a strong working relationship with the team, and we look forward to building on this exciting chapter for the company”   

Henderson Park has extensive experience in the PBSA sector, targeting high-quality assets in leading European university cities. Henderson Park manages over 5,500 PBSA and BTR units across Europe.