Ambassador Group partners with Singapore-based investors

The Nova Living scheme proposes 273 student beds on the corner of Osborne Street and Old Wynd in Glasgow’s Merchant City.

The PBSA development in Glasgow. Ambassador Group partner with Singapore-based investors on the scheme | PBSA News
The PBSA development in Glasgow. Ambassador Group partner with Singapore-based investors on the scheme.

Glasgow based developer Ambassador Group have partnered with Singapore-based investors, established Real Estate companies Far East Orchard and Woh Hup, to deliver a purpose built student accommodation (PBSA) scheme. The development will be funded by the investors, and should be completed by 2026.

The announcement marks a significant milestone in the Group’s Nova Living concept, which obtained planning permission for its first PBSA scheme in November 2023.

The vacant site, situated on the corner of Osborne Street and Old Wynd in Glasgow’s Merchant City, will be transformed into a vibrant new community-focused environment for students.

The Ambassador Group project will deliver 273 high quality student beds within a community focused ‘connected’ environment.

The development will boast state of the art resident amenities. This includes a student lounge, gymnasium and large south facing terrace with views towards the river Clyde.

The firms will work together to deliver this flagship project in a new forward-thinking PBSA strategy within Nova Living. The aim is to address the shortage of, and growing demand for quality student housing.

They also endevour to set a new standard for thoughtful, quality living for all in urban environments.

“We are delighted to have Far East Orchard and Woh Hup, both industry leaders within the sector, to invest in this development. Our development will provide much needed student beds in an acutely undersupplied market, with a shortage of 22,000 beds. Our collective shared values in the sector have driven the relationship from the outset, and we look forward to embarking on this exciting journey with our new global partners to deliver on the first project within Nova Living, where we are entirely committed to delivering sustainable living solutions that prioritise the wellbeing and connectivity of residents.”

Ahsan Afzal, Head of Development for Ambassador’s Nova Living

Far East Orchard Limited recently bought a 49% stake in Harrogate-based PBSA company – Homes For Students (HFS). The deal is worth £17.6m and the company acquired the stake from two non-management sellers.

Far East Orchard can progressively acquire the remaining 51% interest in HFS in two stages. The first being in September 2025 and then November 2030, subject to terms and conditions.