£58 million loan for prime Glasgow PBSA development, Broadway Studios

Overview

Provided a £58 million loan to MRP to fund the development of Broadway Studios, a 432-bed purpose-built student accommodation (PBSA) scheme in Glasgow city centre. With construction being delivered by McAleer & Rushe Contracts, completion is scheduled for August 2026. The building will be operated by Prestige Student Living and will open in time for the 2026/27 academic year.

Broadway Studios will be the first student development in Glasgow to fully align with the city’s new PBSA spatial standards, setting a benchmark for quality and compliance in the city. Designed with sustainability and resilience at its core, the scheme targets BREEAM Excellent and an EPC rating of A, while exceeding Glasgow City Council’s energy efficiency requirements by 20% (Gold Level). The building also surpasses the city’s 20% renewable energy target, incorporating air-source heat pumps and high-performance building materials to deliver long-term operational efficiency.

Connectivity and future-readiness are central to the design. Broadway Studios is targeting WiredScore Platinum, the global standard for digital infrastructure, recognising exceptional resilience, wireless performance, and future-proofed technology provision. In addition, while fully compliant with Scottish building regulations, the project has been proactively aligned with the principles of the new English Building Safety Act, ensuring the development is future-proofed against evolving regulatory and investor requirements.

Residents will benefit from a sophisticated, contemporary interior design and extensive shared amenities, including a rooftop sky lounge, fitness suite, cinema, gym, private dining, and games facilities — all within a secure and vibrant environment.

With its combination of premium design, robust ESG performance, and policy-compliant spatial standards, Broadway Studios is set to become a landmark student living destination in Glasgow and a benchmark for future PBSA development in the city.