STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY

Transcription

1 UNIVERSITY OF STIRLING FOR SALE STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY FORTHSIDE WAY / STIRLING FORTHSIDE WAY Site approx ha (0.75 acres) Detailed planning consent for 208 bed student accommodation development City centre location adjacent to railway station Approximately 1.5 miles from the University of Stirling Campus

2 EXECUTIVE SUMMARY Detailed Planning Consent for 208 beds Severe undersupply of Purpose Built Student Accommodation in a city with high ranking and rapidly growing University Well specified scheme with high level of amenity Spectacular panoramic views to Stirling Castle, Wallace Monument and Ochil Hills Unique river side location within successful Forthside Regeneration area and adjacent to historic City Centre

3 A703 FOR SALE FORTHSIDE WAY STIRLING 3 LOCATION 7 A811 Dumbarton M8 35 MINS Paisley GLASGOW M80 M73 A80 A8 M9 M80 A91 STIRLING Cumbernauld Falkirk Bathgate A985 M8 Dunfermline M9 A71 Livingston M90 35 MINS A702 A92 Dalgety Bay Kirkcaldy EDINBURGH A701 Dalkeith Trane A68 TRANSPORT At the heart of Scotland s central belt, Stirling has direct strategic road connections to the major cities of Glasgow, via the M80 Motorway and Edinburgh, via the M9 Motorway. The city has rail links from Stirling Railway Station, which is situated a short walk from the site, to Edinburgh Waverley, Glasgow Queen Street and Aberdeen. There are also coach links to these centres and a comprehensive local bus service network in and around Stirling. Hamilton A73 West Linton A7 A71 Carluke M74 A721 1 A77 Kilmarnock A71 Peebles A72 A STIRLING Stirling is a thriving economy, located at the heart of Scotland 55% of Scotland s population live within an hours drive of Stirling. The Stirling area s strategic and accessible location along with exceptional quality of life has helped it to attract new residents, businesses and visitors, driving economic growth. As well as providing a regional Centre Stirling is a key location for servicing markets in Glasgow (28 miles), Edinburgh (37 miles) and Falkirk (15 miles). DEMOGRAPHICS The population of the Stirling Council Area (which includes settlements such as Stirling, Dunblane, Bannockburn and Bridge of Allan) is 92,830 (July 2016). A significant increase in households is anticipated and the population is projected to increase to 105,860 by The 2011 Census recorded the population of the city as 45,750. POPULATION IS PROJECTED TO INCREASE TO 105,860 BY 2037

4 4 LOCATION ECONOMY Stirling has a strong and stable economy which provides a fantastic environment for business growth, delivering global connectivity at a highly competitive cost. Key sectors such as financial services, food and drink and tourism are amongst the best performing in Scotland whilst the rapidly emerging digital technology sector is playing an increasingly important role in Scotland s economy. (Reference Benefiting from world class research and innovation, Stirling has a number of strengths in specific sub sectors including; aquaculture, digital technology, Big Data and digital health. With the most highly skilled workforce in Scotland, a business infrastructure that supports the most entrepreneurial area in Scotland and leading business survival rate, Stirling offers businesses a location that can support a multitude of needs. The University of Stirling is an important contributor to and beneficiary of the activities of the local and wider economy. Stirling University Innovation Park (Reference supports over 40 companies in 110,000 sqft of modern office accommodation. TOURISM As a former capital of Scotland, with such historical monuments as Stirling Castle, the National Wallace Monument and other nearby attractions such as Blair Drummond Safari Park, Stirling has become an important tourist destination in Scotland. ( STIRLING CASTLE WALLACE MONUMENT FURTHER EDUCATION The University of Stirling was funded by Royal Charter in 1967 and was Scotland s first new university in 400 years. It is a plate glass university and is principally situated within a 330 acre campus approximately 1.5 miles north of the city centre The university has expanded to four facilities, a Management school, a Graduate school and a number of institutes and centres covering a broad range of subjects in the academic areas of arts and humanities, natural sciences, social science and health sciences and sport. As at July 2016 the university had a total of over 14,000 part time and full time students. The university employs in excess of 1,500 staff. (Reference In addition Forth Valley College of Further Education has a campus within Stirling which was opened in The Stirling campus focuses on Creative Industries, Tourism and Hospitality and is situated north west of the city centre (

5 BURGHMUIR ROAD FOR SALE FORTHSIDE WAY STIRLING 5 SITE LOCATION The site is situated immediately north of the city centre within the Forthside area of Stirling. The site is well connected and positioned at the junction of Forthside Way and Shore Road overlooking the River Forth. The immediate surrounding area is generally residential in nature, with modern flatted accommodation to the south and traditional terraced properties to the west. Easy access to the University of Stirling Campus which is situated some 1.5 miles north of the site is provided via: A84 M9 Jct 10 Bridge of Allan A9 STIRLING UNIVERSITY Causewayhead A91 Blairlogie DRIP ROAD B823 B823 AIRTHREY ROAD THE NATIONAL WALLACE MONUMENT A9 A9 UNIVERSITY OF STIRLING HILLFOOTS ROAD ALLOA RD BUS New and regular bus routes Journey time 10 minutes A811 A84 A9 A9 THE SITE STIRLING A905 A91 A905 Fallin A84 STIRLING CASTLE A905 STIRLING GOLF CLUB STIRLING Forthside, Stirling A905 FORTHSID E WAY A91 St Ninians WALKING M9 Chartershall Bannockburn FORTHSIDE Approximately 30 minutes walk BIKE Approximately 15 minute cycle via Sustrans Route 76 A872 M80 Jct 9 M9 A9 Cowie Forthside is Stirling s waterfront development. The 40 acre development has regenerated the banks of the River Forth and incorporates residential development, an 8 screen 110 seat VUE cinema, restaurants such as Frankie & Benny s and Nandos, a Premier Inn Hotel with Beefeater restaurant and AMF Bowling Alley. The development incorporates a new city square, enhanced landscaping and a riverbank walkway. It is a short walk to the city centre, train station and bus station via a landmark bridge.

6 6 AERIAL VIEW 7 KEY 1 The Site 6 2 Bowling Alley Train Station 4 4 Pedestrian Bridge 3 5 Bus Station 6 The Thistles Shopping Centre 7 Waitrose 1 8 Frankie & Benny s 9 VUE Cinema 2 10 Nandos 11 Premier Inn

7 7 STIRLING S CITY DEAL On 8 March 2017 as part of the Spring budget the Chancellor announced that negotiations were underway on Stirling s City Deal. The proposal builds on Stirling Council s existing project and initiatives. Six key concept projects have been identified to stimulate the overall city development. One of the projects involves the further regeneration of the Harbour Area which will improve and extend the linkage between Stirling city centre and the river to create a new and exciting area of the city. Another project includes the development of a river taxi network and the expansion and enhancement of pedestrian and cycle paths alongside the river. These initiatives should further enhance connectivity between the site and the University Campus. Further information is available at

8 8 SITE The site extends to approximately 0.30 ha (0.75 acres) and is accessed from Shore Road. There is an attractive riverside walkway running along the north and east of the site which links directly to the local amenities within the Forthside development. The site benefits from excellent views across the River Forth and beyond to the Ochil Hills. The adjoining site is to be developed for private residential accommodation. SITE LAYOUT

9 9 PLANNING The planning consent (15/00790/FUL) was initially refused by Stirling Council but was granted following an appeal (Reference: 16/00014/REF) with the decision date being 26 October There are no Section 75 or planning gain requirements associated with the consent. BLOCK A Block A is located to the north of the site and is designed to take advantage of the sloping topography. It comprises two levels nestled into the riverbank looking to the north and provides 14 en-suite studio flats. BLOCK B Block B provides the bulk of the accommodation and comprises an L-shaped footprint arranged over 8 levels. Block B provides a total of 194 en-suite bed spaces arranged in a variety of studio and 1, 2 & 3 bedroom apartments. Block B also provides all of the amenity and communal space including a cinema, gymnasium, common room, games room and laundry at levels -1 and -2. In addition, there are 8 person workrooms on each of the 8 levels within Block B. ACCOMMODATION SCHEDULE THE SCHEME Detailed planning consent has been granted for a purpose built student accommodation development extending to a total of 208 en-suite bedrooms arranged over two blocks. BLOCK A BEDSPACES Studio 1 Bed Apartment 2 Bed Apartment 3 Bed Apartment Level Bedspaces BLOCK B Level Bedspaces TOTAL 208

10 SCHEME LAYOUT DRAWINGS 10 LEVEL -2 BLOCK A BLOCK B

11 FOR SALE FORTHSIDE WAY STIRLING 11 LEVEL -1 BLOCK A BLOCK B

12 12 LEVEL 0 BLOCK A BLOCK B

13 13 LEVELS 1, 2 AND 3 BLOCK A BLOCK B

14 14 LEVELS 4 AND 5 BLOCK A BLOCK B

15 15 UNIVERSITY OF STIRLING The University of Stirling, which celebrates its 50th anniversary in 2017, is home to approximately 14,000 students which make up in the region of 25% of the total population of the city. There are over 10,300 undergraduates and 3,800 postgraduate students. International students from over 120 countries make up approximately 20% of the overall student numbers. The university ranks in the top 20 in the UK of the QS University Rankings for 2017 for Sport, Philosophy, Agriculture, and Nursing. The campus sports facilities are highly regarded and Stirling is designated Scotland s University of Sporting Excellence. Notable accolades from the Times Higher Education Student Experience Survey 2017 include: 1ST IN SCOTLAND (2ND IN THE UK) FOR GOOD ENVIRONMENT ON CAMPUS. 1ST IN SCOTLAND (4TH IN THE UK) FOR HIGH QUALITY SPORTS FACILITIES Further information and university-stirling#wurs STUDENT ACCOMMODATION MARKET IN STIRLING The market offers opportunity as at the present time, the purpose built student accommodation (PBSA) market in the city is dominated by bed spaces provided by the University of Stirling. There is only one private block currently operating of 60 cluster beds at Midpoint and this provides limited amenity. The university offers close to 2,900 beds arranged over approximately 20 properties which are both on and off campus. Approximately 74% of the accommodation is located on campus. The university accommodation varies in terms of age, quality and price. A key feature of the existing PBSA stock in Stirling is the lack of studio accommodation, with less than 1% of overall stock being studios. RENTALS Rental levels range largely depending on age and quality of the accommodation. A selection of rentals is highlighted in the table. There is a recognised shortage of accommodation aimed at 2nd, 3rd, 4th year and post-graduate students many of which are currently accommodated within a range of HMO accommodation both in Stirling and surrounding towns. We therefore anticipate there being a strong demand for studio based accommodation delivered to a high standard within the city. RENT PER WEEK Name Of House Studio Apartment Rent per week Beech Court Studios Beech Court Apartments Alexander Court Townhouses Andrew Stewart Hall Juniper Court Juniper Court Willow Court Willow Court Midpoint DEVELOPMENT PIPELINE A recent application has been submitted at Dumbarton Road in the City Centre for a 153 bed scheme and is yet to be determined.

16 OFFERS Offers are invited for the heritable interest in the site and should be submitted to the sole selling agents, Ryden. FURTHER INFORMATION Further information and access to the dataroom can be provided by contacting the sole selling agents. David Fraser Tel: Ford Swanson Tel: Messrs Ryden for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden has any authority to make or give any representation or warranty whatever in relation to this property. MAY 2017.