Christie & Co has officially put the Rose House purpose-built student accommodation (PBSA) scheme in Dundee on the market, presenting a freehold investment opportunity with a guide price of £1.1 million. The property is strategically located near both Abertay University and the University of Dundee, operating under the name ILM Student Halls. It is distinguished as the UK’s first PBSA designed around halal values while fostering an inclusive environment for students of diverse faiths.
The Unique Proposition
The sale of Rose House is not anticipated to disrupt its day-to-day operations, with the business continuing to function normally throughout the marketing phase. Existing residents will remain unaffected, which underscores the commitment to maintaining a stable living environment. Gary Witham, Director at Christie & Co, remarked, “ILM has established itself firmly in Dundee, with the first facility at Rose House creating great demand in a crowded student accommodation market, with its unique USP. Our vision is now to expand this provision across the UK.”
Refurbishment and Amenities
Rose House has undergone a significant refurbishment, transforming it from its original state as an 18th-century building that previously served as a specialist care home. The current PBSA development now boasts 20 student bedrooms and an array of amenities designed to enhance student living, such as three kitchens, three multi-purpose living rooms, a dining room, a gym, and on-site laundry facilities.
Strategic Location
The site benefits from its proximity to the High School of Dundee, along with its convenient access to the two universities in the city. The owners have opted to market the freehold as part of broader plans to expand the ILM Student Halls brand beyond Dundee, aiming to replicate this successful model at various locations across the UK. This presents an attractive opportunity for investors looking to enter or expand within the purpose-built student accommodation sector.