McLaren Property acquired the building for £10m in December 2016 and plans to invest a further £2.5m into its refurbishment, which will improve the internal and external facilities throughout.
The refurbishment is expected to take place during the summer months, now that the residents have finished their studies.
The work is due to be completed in time for the start of the 2017/18 academic year.
The programme will involve a full refurbishment of all 148 bedrooms, along with new bathrooms, dining and lounge areas.
Following McLaren’s purchase of Meadow Court, Prime Student Living – the student accommodation lettings and management arm of Crosslane – continues to manage the property on behalf of the multidisciplinary developer.
- £1.9bn invested in the student housing sector this year
- Why has student housing become so popular?
- McLaren Construction secures £38m Brighton College contract
The student accommodation is a five-minute walk from George Square in the heart of the University of Edinburgh’s main central campus, with Edinburgh Waverly train station a short walk away.
Meadow Court student accommodation
Tommy Styles, operations director at Prime Student Living, said: “The 148-bed asset is already a big draw for students in the city, exemplified by the property already achieving higher than expected bookings for the 2017/18 academic year.
“Prime Student Living is proud to be continuing to help deliver improvements in the operation and management of student housing that better meet the needs and demands of today’s students.”
Stuart Black, development director at McLaren, added: “McLaren’s student accommodation strategy focuses on prime university cities in the UK, underpinned by high demand from international students, restricted supply through tighter planning policy and support by world-renowned universities.