A Perthshire-based property developer has snapped up student flats in Dundee as part of a multi-million deal.
ATK Property Group has bought the 125-bed property Keiller Court in Blinshall Street.
The lack of student accommodation on offer throughout Dundee has highlighted as a concern for many years.
ATK Property Group co-owner Richard Thom described it as “an exciting time to be investing in Dundee” due to its “prestigious universities”.
Demand for student beds at “all time high”
Each property offers students free Wi-Fi, all appliances, 24/7 maintenance support, free parking, contents insurance, and is inclusive of all utility bills.
There is also a committed team of staff on site offering student support.
Richard Thom, co-owner of ATK Property Group, said: “Demand for student beds is at an all-time high across the UK, and this is especially true of Aberdeen and Dundee; both of which have prestigious universities.
“They attract students from all over the world, but there has been a particular increase in the number of domestic students selecting Scotland as their place to study.”
Recent research carried out by Savills found there has been a reduction in the number of private house in multiple occupation (HMO) flats available, increasing the demand for purpose built student accommodation.
‘Rewarding’ investing in Dundee accommodation
Steven Clark, Together corporate relationship manager, said: “Dundee University attracts students from all over the world, and so to be able to support customers looking to enter the accommodation sector in this area is incredibly rewarding.
“We saw an unprecedented demand for student housing last year with the level of accommodation available outweighing the number of students arriving.
“Our financing of ATK Properties purchasing Keiller Court will, hopefully, go some way to addressing the issue.”
ATK Property Group also purchased 775-bed 403 King Street in Aberdeen.
Specialist lender Together, helped to secure the finance needed allowing ATK Property Group to purchase the portfolio.
