Aviva Investors acquires 99-bed purpose-built student accommodation asset in Glasgow

Aviva Investors has acquired a purpose-built student accommodation (PBSA) property in Glasgow for £23 million ($31 million), as it continues to grow its strategic asset allocation to U.K. living.

Completed in January 2024 and fully leased for the 2024/2025 academic year, 31 Gilbert Street is a 99-bed, all-studio development. The development also offers student residents an on-site gym, whilst also benefitting from access to a communal lounge, cinema room and external courtyard.

The property holds an EPC rating of ‘A’ and has no fossil fuels on site, having been built with all-electric solutions and air source heat pumps for its ongoing energy and heating needs. There is also has scope to add roof-mounted photovoltaic (PV) solar panels.