Union Property Development has secured a £22.6m finance facility with Paragon Bank to fund the building of new student accommodation in Glasgow.

The property will include 140 self-contained studio units, with 142 beds, at 250 St Vincent Street, which should be ready for the 2026/27 academic year.

The project, named Glasgow Citi View, will see Union Property strip-out and refurbish a B-listed former office building, with works already well underway.

Paragon’s funding package refinances the existing building and covers nearly 100% of development costs, while an additional 18-month stabilisation loan will support the scheme post-completion.

The new scheme is targeting a high EPC ‘B’ rating and incorporates a range of green features, including a building management system with smart contro

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