FOR SALE STUDENT ACCOMMODATION DEVELOPMENT OPPORTUNITY

FORTHSIDE WAY /

Site approx. 0.30 ha (0.75 acres)

FORTHSIDE WAY Detailed planning consent for 208 bed student accommodation development

City centre location adjacent to railway station

Approximately 1.5 miles from the University of Stirling Campus EXECUTIVE SUMMARY

• Detailed Planning Consent ​for ​208 beds

• Severe undersupply of Purpose Built Student Accommodation in ​a ​ city with high ranking and rapidly growing University

• ​Well specified scheme with high level of amenity​

• Spectacular panoramic views to Stirling Castle, Wallace Monument and Ochil Hills

• Unique river side location within successful Forthside Regeneration area ​and ​ adjacent to historic City Centre FOR SALE | FORTHSIDE WAY | STIRLING 3

A90 A85 A85 Perth

A82 A92 A91 St Andrews LOCATIONA84 A9 A91

Glenrothes

A82 M9 A91 M90 A92 Kirkcaldy TRANSPORT

85 Dunfermline STIRLING A9 Dalgety Bay At the heart of ’s , Stirling has direct strategic road connections to the major cities of Helensburgh M80 A811 , via the and , via the . The city has rail links from Stirling Railway Station, which is situated a short walk from the site, to Edinburgh Waverley, Glasgow Queen Street and Gourock M9 Dumbarton 35 EDINBURGH A80 . There are also coach links to these centres and a comprehensive local bus service network in and Tranent A1 Dunbar Greenock MINS M8 Haddingtonaround Stirling. M80 35 GLASGOWM73 M8 Livingston Dalkeith A78 MINS A8 A71 Paisley A701 A68 A702 A7

Hamilton A73 West Linton

A71 A737 A703 A697 M74 A721 Ardrossan

A77 Peebles Kilmarnock Irvine A72 A71 A71 Galashiels A76

A78 A702 A77

Prestwick A701 Ayr STIRLING DEMOGRAPHICS

A70 A68 A77Stirling is a thriving economy, located The population of the Stirling Council

at the heart of Scotland A76– 55% of Area (which includes settlements such Scotland’s population live within an as Stirling, , and hours’ drive of Stirling. The Stirling ) is 92,830 (July 2016). area’s strategic and accessible location A significant increase in households along with exceptional quality of is anticipated and the population is A7 life has helped it to attract new projected to increase to 105,860 by

residents, businesses and visitors, 2037. TheA701 2011 Census recorded the driving economic growth. As well as population of the city as 45,750. providing a regional Centre Stirling is a key location for servicing markets in Glasgow (28 miles), Edinburgh (37 miles) and Falkirk (15 miles). POPULATION IS PROJECTED TO INCREASE TO“ 105,860 BY 2037 FOR SALE | FORTHSIDE WAY | STIRLING 4 LOCATION ECONOMY TOURISM FURTHER EDUCATION Stirling has a strong and stable As a former capital of Scotland, with The University of Stirling was funded by Royal Charter in 1967 and was Scotland’s first new university in 400 economy which provides a fantastic such historical monuments as Stirling years. It is a plate glass university and is principally situated within a 330 acre campus approximately 1.5 miles environment for business growth, Castle, the National Wallace Monument north of the city centre The university has expanded to four facilities, a Management school, a Graduate school delivering global connectivity at a and other nearby attractions such as and a number of institutes and centres covering a broad range of subjects in the academic areas of arts and highly competitive cost. Key sectors Blair Drummond Safari Park, Stirling humanities, natural sciences, social science and health sciences and sport. such as financial services, food and has become an important tourist drink and tourism are amongst the destination in Scotland. As at July 2016 the university had a total of over 14,000 part time and full time students. The university employs best performing in Scotland whilst the (www.destinationstirling.com) in excess of 1,500 staff. (Reference www.stirling.ac.uk/about/facts-and-figures) rapidly emerging digital technology In addition Forth Valley College of Further Education has a campus within Stirling which was opened in 2012. sector is playing an increasingly The Stirling campus focuses on Creative Industries, Tourism and Hospitality and is situated north west of the important role in Scotland’s economy. city centre (www.forthvalley.ac.uk). (Reference www.investinstirling.com). STIRLING CASTLE | WALLACE MONUMENT Benefiting from world class research and innovation, Stirling has a number of strengths in specific sub sectors including; aquaculture, digital technology, Big Data and digital health.

With the most highly skilled workforce in Scotland, a business infrastructure that supports the most entrepreneurial area in Scotland and leading business survival rate, Stirling offers businesses a location that can support a multitude of needs.

The University of Stirling is an important contributor to and beneficiary of the activities of the local and wider economy.

Stirling University Innovation Park (Reference www.SUIP.co.uk) supports over 40 companies in 110,000 sqft of modern office accommodation. FOR SALE | FORTHSIDE WAY | STIRLING 5 SITE LOCATION

The site is situated immediately north of A IR T H the city centre within the Forthside area R UNIVERSITY OF E B823 Y

R D of Stirling. The site is well connected and Bridge of Allan O STIRLING A A O D R S positioned at the junction of Forthside T O M9 O Way and Shore Road overlooking the River LF A9 IL H Forth. The immediate surrounding area is A9 generally residential in nature, with modern STIRLING THE NATIONAL A84 UNIVERSITY flatted accommodation to the south and B823 WALLACE MONUMENT A91 traditional terraced properties to the west. Causewayhead

A9 ALLOA RD Jct 10 Easy access to the University of Stirling

DRIP Campus which is situated some 1.5 miles ROAD north of the site is provided via:

BURGHMUIR ROAD

A84

A84

A9

Fo rthside, Stirling

STIRLING CASTLE

THE SITE

A811

F STIRLING A905 O RT BUS STIRLING HSI DE WAY A905 New and regular bus routes – STIRLING GOLF CLUB A91

Journey time 10 minutes A9 A905 A905 Fallin A91

St Ninians M9

WALKING Chartershall Bannockburn FORTHSIDE Approximately 30 minutes’ walk A872 Cowie Forthside is Stirling’s waterfront development. The 40 acre development has regenerated the banks of the and incorporates residential development, an 8 screen 110 Jct 9 A9 seat VUE cinema, restaurants such as Frankie & Benny’s and BIKE Nandos, a Premier Inn Hotel with Beefeater restaurant and AMF Bowling Alley. M9 Approximately 15 minute cycle via The development incorporates a new city square, enhanced Sustrans Route 76 M80 landscaping and a riverbank walkway. It is a short walk to the city centre, train station and bus station via a landmark bridge. FOR SALE | FORTHSIDE WAY | STIRLING 6 AERIAL VIEW

7 KEY

1 The Site

6 2 Bowling Alley

9 11 10 5 3 Train Station 8

4 4 Pedestrian Bridge

3 5 Bus Station

6 The Thistles Shopping Centre

7 Waitrose

8 Frankie & Benny’s 1

9 VUE Cinema

10 Nandos 2 11 Premier Inn FOR SALE | FORTHSIDE WAY | STIRLING 7 STIRLING’S CITY DEAL

On 8 March 2017 as part of the Spring budget the Chancellor announced that negotiations were underway on Stirling’s City Deal. The proposal builds on Stirling Council’s existing project and initiatives. Six key concept projects have been identified to stimulate the overall city development. One of the projects involves the further regeneration of the Harbour Area which will improve and extend the linkage between Stirling city centre and the river to create a new and exciting area of the city.

Another project includes the development of a river taxi network and the expansion and enhancement of pedestrian and cycle paths alongside the river. These initiatives should further enhance connectivity between the site and the University Campus. Further information is available at www.my.stirling.gov.uk/files/citydealmasterplan.pdf FOR SALE | FORTHSIDE WAY | STIRLING 8 SITE

The site extends to approximately 0.30 ha (0.75 acres) and is accessed SITE LAYOUT from Shore Road. There is an attractive riverside walkway running along the north and east of the site which links directly to the local amenities within the Forthside development. The site benefits from excellent views across the River Forth and beyond to the Ochil Hills. The adjoining site is to be developed for private residential accommodation. FOR SALE | FORTHSIDE WAY | STIRLING 9

BLOCK A PLANNING Block A is located to the north of the site and is designed to take advantage of the sloping topography. It comprises two levels nestled into the riverbank looking to the north and provides 14 en-suite studio flats. The planning consent (15/00790/FUL) was initially refused by Stirling Council BLOCK B but was granted following an appeal (Reference: 16/00014/REF) with the decision date being 26 October 2016. There are no Section 75 or planning gain Block B provides the bulk of the accommodation and comprises an L-shaped footprint arranged over 8 levels. requirements associated with the consent. Block B provides a total of 194 en-suite bed spaces arranged in a variety of studio and 1, 2 & 3 bedroom apartments. Block B also provides all of the amenity and communal space including a cinema, gymnasium, common room, games room and laundry at levels -1 and -2. In addition, there are 8 person workrooms on each of the 8 levels within Block B. ACCOMMODATION SCHEDULE

BLOCK A BEDSPACES Studio 1 Bed Apartment 2 Bed Apartment 3 Bed Apartment Level -2 7 0 0 0 7 -1 7 0 0 0 7 Bedspaces 14 0 0 0 14 BLOCK B Level -2 10 1 2 0 15 -1 9 1 3 0 16 0 14 1 3 2 27 1 18 1 5 1 32 2 18 1 5 1 32 3 18 1 5 1 32 THE SCHEME 4 10 1 3 1 20 5 10 1 3 1 20 Detailed planning consent has been granted for a purpose built student Bedspaces 107 8 58 21 194 accommodation development extending to a total of 208 en-suite bedrooms arranged over two blocks. TOTAL 208 FOR SALE | FORTHSIDE WAY | STIRLING 10 SCHEME LAYOUT DRAWINGS LEVEL -2

BLOCK A BLOCK B FOR SALE | FORTHSIDE WAY | STIRLING 11

LEVEL -1

BLOCK A BLOCK B FOR SALE | FORTHSIDE WAY | STIRLING 12

LEVEL 0

BLOCK A BLOCK B FOR SALE | FORTHSIDE WAY | STIRLING 13

LEVELS 1, 2 AND 3

BLOCK A BLOCK B FOR SALE | FORTHSIDE WAY | STIRLING 14

LEVELS 4 AND 5

BLOCK A BLOCK B FOR SALE | FORTHSIDE WAY | STIRLING 15

UNIVERSITY RENTALS RENT PER WEEK Rental levels range Name Of House Studio Apartment Rent per week largely depending on Beech Court Studios 6 £159 age and quality of the OF STIRLING Beech Court Apartments 281 £141 accommodation. A selection of rentals Alexander Court Townhouses 11 £145 is highlighted in the table. Andrew Stewart Hall 204 £125 Juniper Court 243 £145 Juniper Court 8 £163 The University of Stirling, which Willow Court 8 £163 celebrates its 50th anniversary in Willow Court 120 £145 2017, is home to approximately 14,000 students which make up in the region of STUDENT Midpoint 60 £109 25% of the total population of the city. There are over 10,300 undergraduates ACCOMMODATION and 3,800 postgraduate students. There is a recognised shortage of International students from over 120 accommodation aimed at 2nd, 3rd, 4th countries make up approximately 20% MARKET IN year and post-graduate students many DEVELOPMENT PIPELINE of the overall student numbers. The of which are currently accommodated university ranks in the top 20 in the UK within a range of HMO accommodation A recent application has been submitted at Dumbarton Road in the of the QS University Rankings for 2017 STIRLING both in Stirling and surrounding towns. City Centre for a 153 bed scheme and is yet to be determined. for Sport, Philosophy, Agriculture, and We therefore anticipate there being Nursing. The campus sports facilities a strong demand for studio based are highly regarded and Stirling is The market offers opportunity as at accommodation delivered to a high designated Scotland’s University of the present time, the purpose built standard within the city. Sporting Excellence. student accommodation (PBSA) market in the city is dominated by bed Notable accolades from the Times spaces provided by the University of Higher Education Student Experience Stirling. There is only one private block Survey 2017 include: currently operating of 60 cluster beds at Midpoint and this provides limited amenity. The university offers close to 1ST IN SCOTLAND (2ND IN THE UK) FOR 2,900 beds arranged over approximately GOOD ENVIRONMENT ON CAMPUS. 20 properties which are both on and off campus. Approximately 74% of the 1ST IN SCOTLAND (4TH IN THE UK) FOR accommodation is located on campus. The university accommodation varies HIGH QUALITY SPORTS FACILITIES in terms of age, quality and price. A key feature of the existing PBSA Further information www.stir.ac.uk and stock in Stirling is the lack of studio www.topuniversities.com/universities/ accommodation, with less than 1% of university-stirling#wurs overall stock being studios. OFFERS

Offers are invited for the heritable interest in the site and should be submitted to the sole selling agents, Ryden.

FURTHER INFORMATION

Further information and access to the dataroom can be provided by contacting the sole selling agents.

David Fraser Ford Swanson [email protected] [email protected] Tel: 0131 473 3273 Tel: 0131 473 3236

Messrs Ryden for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden has any authority to make or give any representation or warranty whatever in relation to this property. MAY 2017.