The joint venture will bring forward and then facilitate the operations of the 604-bed project, with BGO, the lender, providing a circa £79 million development loan.

With enabling works already complete, McAleer & Rushe has been appointed to begin the next stage of construction, with completion targeted ahead of 2027/28 academic year.

The project, designed by Edinburgh-based Michael Laird Architects, will transform a former gasworks and naval yard into the largest single-site student-living scheme in the Scottish capital, featuring 604 ensuite rooms alongside amenity spaces and landscaped gardens with 50 new trees.

By reusing and repurposing all three of the existing historic buildings on site, important heritage will be protected. It also saves 3,260 tonnes of carbon in the process, when compared to what would have been required to construct entirely new buildings. The project will be delivered to the highest sustainability standards, targeting a BREEAM ‘Excellent’ rating.

Shore Station will offer an elevated student-living concept and campus, centred around a landscaped central square and courtyard garden, and within walking distance of The Shore, the sought-after Leith neighbourhood. Design-led internal and external amenity spaces – a substantial 8.3 sqm per person – will be spread across the campus-style development to prioritise wellbeing and collaboration. Features will include study rooms and collaboration spaces, a lounge, relaxation room, courtyards, herb garden, cinema, gym, and abundant cycle storage spaces.

Alongside a network of bus links, Leith benefits from access to the city’s tram line, providing a 15-minute journey to Edinburgh’s West End, Old Town and city centre, alongside access to Edinburgh’s four universities and their respective campuses.

Damien Sharkey, managing director at HUB, commented: “Edinburgh stands out as one of the top student cities globally and there is a significant demand for additional housing for its student population, especially of the high standard that this project promises. HGP’s expertise and strategic vision perfectly complement our track record of creating excellent sustainable living spaces in well-connected areas, so we are proud to be partners on this unique project that builds on the fascinating history of Edinburgh’s coolest quarter.”

Simon Ringer, head of Bridges Property Funds, said: “Across the UK, there’s a significant under-supply of purpose-built student accommodation. In Edinburgh alone, there are more than three students for every available bed. As such, there is a pressing need for high-quality schemes like Shore Station. As with every Bridges and HUB development, we will be targeting the highest possible sustainability standards, while also supporting the wellbeing on residents through well-designed amenities and green spaces. We’re excited to see Shore Station come to life over the next couple of years.”

Colin Bennett, investment director at HGP, added: “We are delighted to continue our support of the UK Living sector through our first joint venture with HUB and Bridges. The JV will deliver an iconic and sustainable scheme for Edinburgh’s student population, in what is a critically undersupplied market. We are excited to be working with our new partners. Their focus on heritage, sustainability and social impact aligns with HGP’s ethos, and we look forward to collaborating on such a prominent development.”

Jim Blakemore, managing partner and global head of debt at BGO, said: “BGO are delighted to be the financing partner of such a high-calibre project and team. It aligns with our strategy of supporting best in class developments in prime locations that have a strong sustainability angle.”