Aviva Investors has added a £23m (€27.6m) student accommodation property in Glasgow to its UK living-sector portfolio.
The global asset management arm of insurer Aviva said it has acquired the 99-bed 31 Gilbert Street asset completed in January 2024 and fully-let for the 2024/2025 academic year.
The latest investment follows the asset manager’s acquisition of a portfolio of six purpose-built student accommodation assets in December last year, located across four UK cities and offering over 1,000 student beds. Also in July, Aviva Investors agreed to acquire and forward fund a new student village at Staffordshire University.
James Stevens, head of real estate investment at Aviva Investors, said: “This is another example of Aviva Investors materially increasing its investment in the UK’s living and residential sector. The supply of student accommodation has fallen in recent years, despite student numbers continuing to rise.
“Glasgow is a prime example of this, with the city having the second highest shortfall of student beds in the UK. Not only does this acquisition show how private capital can play a role in addressing this imbalance, we believe it will bring long-term performance to our portfolio and support client outcomes.”
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