Dundee nightclub-to-PBSA scheme hits the market

Newtide Investments has appointed Ryder to market a £35m purpose-built student accommodation block in Dundee. The former two-storey nightclub on a 0.27-acre site at 21 South Ward Road has planning permission for a nine-storey student accommodation block containing 215 beds. Newtide is marketing the site with the potential for a forward funding deal, or an outright site acquisition for £2.5m. According to Ryder, there is an undersupply of PBSA in Dundee with current student to bed ratio of 4.8:1. The city has more than 18,500 full-time students and has experienced 12.5% annual growth in full-time international students since 2016/17.