Legal & General to fund student accommodation development
Legal & General has agreed to fund the development of new high-quality student accommodation block to a top Scottish university.
Lincam Pentland Ltd, a subsidiary of Edinburgh housebuilder S1 Developments Limited, has completed the sale of the proposed new 315 room (359 bed) student residence, formerly known as Pentland House, on a forward funding basis for a purchase price of around £35 million.
The property will be leased to the University on a new 20-year full repairing and insuring lease on completion of the development, which is scheduled for September 2020 …