Located at 31 Gilbert Street, the all-studio development has rooms ranging from 17 sq m to 29 sq m as well as a gym, cinema room, communal lounge and external courtyard.

The property was completed in January 2024 and is fully let for the 2024/25 academic year. It was constructed with an EPC rating of A, with air source heat pumps and solar panels installed.

“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,” said James Stevens, head of real estate investment at Aviva Investors.

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“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.”

This is the latest in an ongoing expansion for Aviva Investors’ PBSA portfolio. In December 2023, the asset manager acquired six PBSA assets in four cities across the UK with a combined 1000 beds.

In July of this year, Aviva Investors agreed to acquire and forward fund a fully amortising lease for the creation of a new student village at Staffordshire University.