Funding deal for Royal Conservatoire of Scotland student accommodation

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A multi-million funding deal has been agreed to support the delivery of a new student accommodation development in Glasgow. The Royal Conservatoire of Scotland is to offer the new project in Dunblane Street designed specifically for performing arts students thanks to funding from London-based Beaufort Capital Management.

The development will include sound-proofed practice and rehearsal spaces, a cinema as well as social and living spaces where students can collaborate.

The new site will accommodate up to 301 students in a range of shared flats and studio apartments, all en-suite. It will be the only student accommodation in Scotland built to cater for the needs of young musicians, singers, actors and performers, enabling them to practice and collaborate in a secure environment. The RCS will lease 164 bed spaces from property developer and owner, Soller One Ltd.

This new student accommodation will be located between the two RCS campus locations at Renfrew Street and the Wallace Studios at Speirs Locks.

Professor Jeffrey Sharkey, principal of the Royal Conservatoire of Scotland, said: “As one of the world’s top institutions for performing arts education, the Royal Conservatoire of Scotland attracts high-calibre students from across Scotland and internationally. We want our students to have the best possible experience while they are studying with us and part of that is having inspiring and purposeful campus facilities and accommodation.

“This new development will allow our students to thrive and develop as artists and as citizens of the world. It’s of immeasurable benefit that our students have the right facilities to practice their art in their own environment to help them get the most from their studies, social lives and student experience.”

Nick Treadaway, director of The Soller Group, added: “The local community will start to see this development for the Royal Conservatoire of Scotland take shape over the coming months, and it will undoubtedly transform the area. This will be a high-quality development for the Conservatoire’s students and provide jobs and training opportunities for local people during the construction period. We have worked closely with staff and students from the Conservatoire to deliver a building that complements their already outstanding learning experience.”

Mark Quigley, managing director for UK real estate finance at Beaufort, said: “It will be a first-class student accommodation development which will include a considerable number of amenities for the benefit of students at the world-renowned RCS and is a further significant investment in Scotland for Beaufort.”

Construction work is already underway and is expected to be completed by August 2019.