Nearly 70 students in Dundee are scrambling to find accommodation for the current academic year after the owner of Marketgait Apartments, a city centre block, went into administration. Students have been forced to find alternative housing and move their possessions as term begins this month.
The company filed for administration in mid-July, having let 68 rooms. Weeks earlier, it had been promoting its properties online. The building, which has 116 rooms, is less than a 10-minute walk from Abertay and Dundee universities.
This situation is the latest in a series of university housing schemes failing across the UK, reflecting severe financial strain on the sector. Accommodation providers are reportedly grappling with falling international student numbers, a cost of living squeeze, and higher borrowing and build costs.
Prestige Student Living, the managing agent, stated that the decision and subsequent closure were beyond their control. They confirmed that their team notified students, helped them secure alternative accommodation in Dundee, and returned all payments made.