Vast £59 million development will provide hundreds of student flats near historic Edinburgh park
“The addition of 298 high quality, affordable student bedrooms in Edinburgh will help to improve supply, while also freeing up much-needed privately rented homes for families and young professionals” – Joe Lister, Unite
Work has completed on a vast £59 million student and housing development in Edinburgh as industry experts insisted Scotland’s main cities faced an undersupply of suitable accommodation.
Burnet Point, on Abbey Lane, just north of Holyrood Park and the Palace of Holyroodhouse, is Unite Students’ first combined development of purpose-built student accommodation (PBSA), build-to-rent and affordable housing. The flagship scheme combines 298 student bedrooms in a mix of “cluster” and studio flats and 66 one, two and three-bedrooms flats, including 17 affordable units.
The £59m development, constructed by building firm Graham, has been designed with sustainability at its core, incorporating low-carbon concrete and timber composite materials, Unite added.
Joe Lister, chief executive at Unite Students, said: “We’re thrilled to have opened the doors to Burnet Point in time for the start of the new academic year. It’s our first mixed-use scheme combining student accommodation, build-to-rent and affordable housing, so it’s a property that will serve both the student and private rental markets.
“The addition of 298 high quality, affordable student bedrooms in Edinburgh will help to improve supply, while also freeing up much-needed privately rented homes for families and young professionals.”
In addition to Burnet Point, Unite Students has completed the construction of a second property in time for the start of the 2025/26 academic year, Avon Point in Bristol. The firm’s off-campus development pipeline currently stands at £925m with 4,600 beds committed in Russell Group cities.
News of the Edinburgh completion comes amid a boom in such projects. A recent report hailed student flats as a “shining light” in Scotland’s commercial property market despite wider concerns over the fallout from an ongoing university and college funding crisis.
PBSA schemes, which have been springing up across Scottish university towns and cities, were highlighted in the latest investor research on the living sector, undertaken by property advisory firm Lismore Real Estate Advisors.
Chris Thornton, associate director at Lismore, said: “The PBSA sector continues to be one of the shining lights, performing strongly, driven by resilient demand and stable capital values, particularly in cities with a Russell Group university. Despite concerns over international student numbers, institutional investors, private equity firms and specialist platforms remain highly engaged in this sector.”
Earlier this week, funding was secured for a large-scale student property scheme that will provide more than 400 beds in Glasgow city centre.
Puma Property Finance has provided a £58m loan facility to MRP - the property division of McAleer & Rushe - to fund the launch of Broadway Studios. The 432-bed purpose-built student accommodation scheme is scheduled for completion in August 2026 and will be operated by Prestige Student Living.
Developers said residents would benefit from a “sophisticated, contemporary interior design” and extensive shared amenities, including a rooftop sky lounge, fitness suite, cinema, gym, private dining and games facilities.
Shane McBride, development director at MRP, said: “Broadway Studios exemplifies MRP’s strategy of delivering high-quality, operationally resilient PBSA in undersupplied university cities
“Glasgow’s student market continues to face a structural shortage of accommodation, and this development responds directly to that demand.”
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