The developer behind a new multi-million-pound student accommodation project in Dundee remains confident in the future of city’s universities.
Despite the ongoing Dundee University crisis, the man behind the luxury Parklands development on Brown Street believes each of the 163 rooms will be filled.
The state-of-the-art building, due to be completed this summer for an eight-figure sum, is on the site of a former jute mill and retains some of the original stone façade.
It will feature a unique ‘living’ grass rooftop, sky lounge with an outdoor terrace, gym, communal games area, TV ‘snug’ and study room.
Powered by solar panels and electric heat pumps, it has been designed to be energy efficient and eco-friendly.
Parklands Dundee prices range from £175 to £285 pw
Prices start at £175 per week for a classic ensuite room with a shared kitchen and living space.
Meanwhile, a deluxe penthouse studio room with a fitted kitchen will cost £285 per week.
The Courier was given an exclusive look around the property while building work – undertaken by almost 100 local contractors – is ongoing.
During the tour, developer Maarten Thissen revealed why he was keen to invest in the City of Discovery.
The development comes after it emerged hundreds of bedrooms at Dundee University’s student halls have lain empty this academic year due to a downturn in both international and UK student numbers.
Efforts to bridge the university’s £35 million deficit could lead to up to 700 job cuts, it emerged this week.
Dundee University crisis could ‘generate positive change’
Maarten, a director at investment firm Gylemuir Capital, said: “I feel very positive about the city and its universities, despite the cuts that are taking place at the University of Dundee.
“Dundee is a vibrant city and the degree courses the universities offer, particularly life sciences, healthcare and game development, will ensure longevity.
“A crisis can generate a change that is needed.
“Job losses are never good but I am confident that the University of Dundee will be ok.
“We had an idea the financial difficulties at the university were coming last year but it did not put us off.
“As Winston Churchill once said, ‘never let a good crisis go to waste’.”
Edinburgh-based Gylemuir Capital have built 26 student accommodation blocks across the UK, including Swansea, Chester and Liverpool, but this is their first in Dundee.
Dundee has more female students
Maarten, who lives in Amsterdam, believes that Dundee’s student development potential has not been properly realised.
He said: “A lot of developers pass on Dundee because it’s not a huge city or they didn’t study here.
“I think that is very short-sighted.
“Unlike many university cities, Dundee has a student to bed ratio of 5:1 and some of that accommodation is dated.
“Dundee also has a higher-than-average number of female students, who are statistically more likely to complete their degrees.
“We are very confident in our product and believe it will sell well.
“We are offering a high quality, desirable product at an affordable price and we know from experience what students want.
“If you have the best product, you don’t have a problem with vacant rooms.”
Maarten revealed a number of rooms had already been reserved at Parklands, operated by Homes for Students and part of the Prestige Student Living portfolio of properties.
So far, the most sought-after appear to be the top-end penthouse studios, which cost almost £1,200 per month.
As well as Scottish students, enquiries have come from English students and international students – as far away as China and the United States.
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