Prime Student Living and McLaren Property are pleased to announce details of the high-specification refurbishment programme which will completely over-hall the 148-bed student accommodation property, Meadow Court on Sciennes in Edinburgh.
Following its £10 million acquisition of the property in December 2016 on which the Crosslane Group advised, McLaren Property is investing a further £2.5 million into the refurbishment of Meadow Court, improving internal and external facilities throughout. Works will take place during the summer months, now residents have come to the end of their tenancies and moved out, with completion ready in time for the start of the 2017/18 academic year.
The improvement programme will involve full refurbishment of all 148 bedrooms, along with new bathrooms including new showers and new fully fitted kitchen, dining and lounge areas within the cluster flats of three to six beds. Refurbishment to the property will include the introduction of fabulous new shared facilities, including a group study room, an entertaining kitchen/dining facility and communal common room with full height glass bi-fold doors leading out to a newly landscaped courtyard, providing a private outdoor space exclusively for the enjoyment of residents. A new secure gated entry system is also being installed, along with a new electronic key fob access system, replacement intercom system and CCTV to improve security.
Following the recent sale, Prime Student Living, the student accommodation lettings and management arm of Crosslane, continues to manage the property on behalf of McLaren. Meadow Court has been fully let for the past five years and is already experiencing higher than expected direct let bookings for the 2017/18 academic year and is expected to be fully let by the start of the academic year.
Meadow Court is a five minute walk from George Square, in the heart of the University of Edinburgh’s main central Campus. Edinburgh Waverley train station, the Old Town and city centre are a short walk from the property, providing easy access to all the city’s amenities.
Edinburgh is a vibrant, cosmopolitan and historic city and home to four universities with a total student population of some 47,000. The University of Edinburgh is ranked in the top 20 of The Sunday Times and The Guardian university league tables.
Commenting, Tommy Styles, Operations Director at Prime Student Living, said:
“Prime Student Living is pleased to announce details of the refurbishment programme for student property, Meadow Court in Edinburgh, that will deliver much improved facilities, services, amenities and décor to its students. The 148-bed asset is already a big draw for students in the city, exemplified by the property already achieving higher than expected bookings for the 2017/18 academic year. Prime Student Living is proud to be continuing to help deliver improvements in the operation and management of student housing that better meet the needs and demands of today’s students.”
Stuart Black, Development Director at McLaren, added:
“McLaren’s student accommodation strategy focuses on prime university cities in the UK, underpinned by high demand from international students, restricted supply through tighter planning policy and supported by world renowned universities. We are pleased to announce the details of our refurbishment of Meadow Court, which will provide higher specification rooms and increase the quality of the shared facilities for the benefit of students in Edinburgh.”