Edinburgh University raises ‘for sale’ sign on two student blocks with more than 100 beds
“Given their size, character and condition, these sites offer a unique opportunity for developers in a sought-after location” – Damien Toner, director of estates at the University of Edinburgh
The University of Edinburgh has put two student accommodation buildings up for sale, describing them as “a unique opportunity for developers”.
Property advisor CBRE said it had been appointed by the university to bring to market the two “well-located” assets in the south of the city. A price tag has not been disclosed.
David Horn House and Kitchener House are within walking distance of the university’s King’s Buildings campus. Both buildings are said to benefit from “excellent transport links and proximity to key city amenities”, including a likely tram extension and major redevelopment plans at nearby Cameron Toll.
The move comes amid a backdrop of a crisis-hit university sector. Last month, the University of Edinburgh announced potential staffing cuts, saying it had opened a voluntary redundancy scheme for some staff, noting that the higher education sector was facing “urgent financial challenges”.
David Horn House and Kitchener House comprise 48 and 60 student beds respectively. Property experts said the buildings have a “solid track record” of student occupancy, reflecting consistent demand in a sought-after location. CBRE said they offered potential for investors to either refurbish and retain them for student use, or explore alternative uses, subject to consents.
David Horn House consists of four townhouses combined into a single operational building, while Kitchener House is described as being a “distinctive former mansion with later extensions and mature external grounds”.
Damien Toner, director of estates at the University of Edinburgh, said: “Edinburgh remains a highly desirable location of choice for students, residents and visitors alike, with demand for competitive accommodation options consistent across the city.
“Given their size, character and condition, these sites offer a unique opportunity for developers in a sought-after location, and we are pleased to be working with CBRE to explore the market potential.”
Steven Hendry, a director in CBRE’s investment property team in Edinburgh, added: “We are pleased to be working with the University of Edinburgh on this important instruction.
“These are two distinctive assets in a highly sought-after part of the city, offering both immediate student accommodation use, and clear potential for repositioning. With strong demand in Edinburgh’s student market and the excellent proximity to King’s Buildings, we expect these properties will attract strong interest from a wide range of investors.”
The properties will be marketed on an individual and combined basis.
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