Aviva Investors acquires a completed and fully let purpose-built student accommodation (PBSA) development, underwritten and managed by Curlew Capital.
Curlew Capital has successfully onboarded and is now managing Aviva Investor’s acquisition of the West End Studios PBSA development in Glasgow. The acquisition was completed for £23 million, further expanding Curlew 's presence in the sector and highlighting their operational expertise.
Located at 31 Gilbert Street, the newly completed PBSA scheme features 99 studios, including accessible rooms, and is fully let for the 2024/2025 academic year. Amenities include an on-site gym, communal lounge, cinema room, and courtyard. Built with sustainability in mind, the property uses all-electric solutions and air source heat pumps, earning an EPC rating of ‘A’.
It aligns with Curlew and Aviva’s commitment to sustainability, with potential for further enhancements through roof-mounted photovoltaic (PV) solar panels.
Charlie Oliver, Managing Director, Curlew Capital commented“The addition of this asset to our existing portfolio underlines our continued commitment to delivering high-quality student accommodation in key university cities across the UK and our strong relationship with Aviva Investors. We are confident that this asset will deliver long-term value to our clients and make a positive contribution to the local community.”
The scheme is situated in the west end of Glasgow, a prime location that is just an 11-minute walk from the University of Glasgow, a member of the UK’s prestigious Russell Group. Russell Group universities produce over two-thirds of the UK’s world-leading research. These institutions support over 260,000 jobs across the country and contribute nearly £87 billion to the national economy each year.
This investment strengthens the relationship between Curlew and Aviva investors and will be added to the six PBSA asset portfolio acquired by Aviva Investors in December 2023, also under Curlew’s management. The portfolio, located across four UK cities—Edinburgh, Liverpool, Exeter, and Falmouth—provides over 1,000 student beds and demonstrates Curlew Capital’s expertise in managing high-quality student accommodation across diverse markets.
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