Greenmarket Studios, a 55-bedroom purpose-built student accommodation by Crucible Developments, hits the market for just under £9 million amid Dundee’s significant shortfall in student housing. The development forms part of a wider urban renewal vision for the former Dundee goods yard area, aiming to meet rising demand and generate substantial rental income.
Crucible Developments has officially launched its finished purpose-built student accommodation (PBSA) project, Greenmarket Studios, in Dundee, placing it on the market for just under £9 million. This 55-bedroom facility, situated on South Marketgait, aims to cater to the growing demand for student housing in the area, offering amenities designed to enhance student life, including a communal lounge, a dedicated study space, and stunning sea views from selected rooms.
The university town of Dundee is poised for increased student enrolments, yet it faces a pressing accommodation shortfall. Current estimates suggest that local universities have approximately 2,500 beds available, while the demand stands at around 6,000. This highlights a significant gap in housing provisions. Crucible Developments is keenly aware of this disparity; the company claims that existing options are insufficient for the rising population of students. Greenmarket Studios is projected to generate rental income exceeding £500,000 in its inaugural year, bolstered by a long-term lease agreement with Pret A Manger that starts at £55,000 annually and is set to escalate to £70,000.
Peter Fleming, Director at Graham + Sibbald, which is handling the sale, remarked on the project’s importance, stating, “The development will provide a best-in-class specification for a student scheme in Dundee, in line with comparable PBSA buildings of this quality.” This sentiment echoes Crucible’s broader strategy of regenerating areas previously deemed derelict, such as the former Dundee goods yard where Greenmarket Studios is located.
The environment surrounding student accommodation in Dundee has been complicated by rising construction costs and inflation, creating challenges for future housing developments. Over the past 15 years, only three other projects have been completed, illustrating the slow pace of new housing solutions amid escalating demand. This limitation is exacerbated by a lack of new initiatives, despite significant backing—Crucible secured a £4.1 million development loan from the Bank of Scotland to see the Greenmarket Studios project through to completion.
Greenmarket Studios not only meets accommodation needs but also reflects an ambitious vision for urban renewal in Dundee. The development complements adjacent commercial projects, including a significant office building for BT and newly built café units. A mixed-use undertaking, the Greenmarket area is gearing up to become a vibrant hub, melding residential, leisure, and business spaces that aim to revitalise the community.
While the focus remains on the immediate benefits of the Greenmarket Studios project, the city’s broader plans signify an ongoing commitment to addressing housing shortages and enhancing urban life. Comprehensive investment, such as that reflected in the development of the new Leisure Quarter—including a proposed cinema and hotel—demonstrates a robust drive towards creating a sustainable and engaging environment for both students and the general populace.
As Dundee positions itself as a competitive educational hub, investments like Greenmarket Studios not only promise immediate returns but also aim to foster long-term growth, offering students an enhanced living experience aligned with their academic pursuits.
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Source: Noah Wire Services
- https://pbsanews.co.uk/2025/06/09/crucible-developments-greenmarket-studios-pbsa-hits-the-market/ – Please view link – unable to able to access data
- https://www.zoopla.co.uk/for-sale/commercial/details/62720546/ – This property listing details a leisure and hospitality site in Dundee, Scotland, available for £8,000,000. The development includes plans for four large holiday homes, six tree houses, twelve lodges, a residential home, and facilities such as a bar/restaurant, wedding chapel, and events space. The site boasts high profits of £330,000 from low turnover, indicating a highly profitable business model. The property is not located in Dundee; due to confidentiality, the location is set to the Dundee office address. For further information, contact the lead agent.
- https://www.cruciblealbagroup.com/greenmarket-dundee.html – Crucible Developments’ Greenmarket Dundee project comprises a 76,000 sq.ft office building pre-let to BT PLC and two ground-floor café units. The office space is part of BT’s Better Workplace Programme, offering BREEAM excellent and Platinum wired accommodation. This office letting is one of the largest deals completed in Scotland in 2021 and one of the largest office deals in Dundee for several years. The development aims to regenerate a prominent city centre site in Dundee.
- https://www.haus-collective.com/design/greenmarket-dundee/ – The Greenmarket Dundee development is a mixed-use project creating office space and student accommodation at a landmark site in Dundee. The project includes a 75,000 sq.ft office for BT with additional commercial units on the ground floor and a residential building providing accommodation for students at the nearby University of Dundee. The design approach reinstates the street edge, taking inspiration from the Conservation Area that fronts Nethergate and recent developments on Greenmarket and West Marketgait in Dundee.
- https://www.thecourier.co.uk/fp/business-environment/business/2209228/bt-to-move-1000-staff-to-multi-million-pound-dundee-development/ – BT plans to relocate 1,000 Dundee staff to a new multi-million-pound development at the rear of Groucho’s record shop. Property development company Crucible (Dundee) Ltd lodged an application for an office, residential, and retail project across two buildings on land at Greenmarket, at the corner of Marketgait. The new building will include a ‘street landscape’ for workers to socialise while enjoying great views over Dundee and the River Tay. The development also includes 16 flats and four retail outlets.
- https://www.scottishfinancialnews.com/articles/crucible-developments-secures-ps41m-bank-of-scotland-funding-for-dundees-student-housing – Scottish property firm Crucible Developments has revealed plans to tackle Dundee’s student accommodation deficit with backing from the Bank of Scotland. In 2022, the developer purchased a 75,000 sq ft site at the intersection of Dundee’s Nethergate and West Marketgait. Recognising the acute shortage of student housing in Dundee, Crucible decided to allocate 700 sq m of the space for private, high-quality student accommodation. The initial £3 million for the project was internally sourced, with a subsequent £4.1m development loan secured from Bank of Scotland to facilitate construction completion, scheduled for December 2023.
- https://www.thecourier.co.uk/fp/news/622810/24-million-multiplex-cinema-and-hotel-plan-for-dundee-city-centre-gap-site/ – A nine-screen multiplex cinema and a new hotel are the cornerstones of a new £24 million plan to redevelop a major gap site in Dundee’s central waterfront zone. Ayr-based Crucible Alba Group wants to transform a long-vacant brownfield site at Greenmarket, directly to the south of Groucho’s music store. The company expects to create 250 permanent jobs at the site in addition to a ‘significant’ number of roles during the construction of the proposed Greenmarket Leisure Quarter. The proposed development also includes new restaurants and cafes, residential apartments, and car parking.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative is recent, dated June 9, 2025. The earliest known publication date of similar content is June 20, 2023, when Crucible Developments secured a £4.1 million development loan for the project. ([scottishbusinessnews.net](https://scottishbusinessnews.net/scottish-property-developer-receives-4-1m-funding-for-student-accommodation/?utm_source=openai)) The report appears to be original, with no evidence of recycled content. The narrative is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. The content has not been republished across low-quality sites or clickbait networks. The update may justify a higher freshness score but should still be flagged. ([scottishbusinessnews.net](https://scottishbusinessnews.net/scottish-property-developer-receives-4-1m-funding-for-student-accommodation/?utm_source=openai))
Quotes check
Score:
9
Notes:
The direct quote from Peter Fleming, Director at Graham + Sibbald, is unique to this report. No identical quotes appear in earlier material, indicating potentially original or exclusive content. No variations in quote wording were found.
Source reliability
Score:
7
Notes:
The narrative originates from PBSANews.co.uk, a news outlet with limited online presence and credibility. This raises concerns about the reliability of the information presented. Crucible Developments is a reputable property development company based in Ayr, Scotland, with a history of projects in Scotland and the North of England. ([cruciblealbagroup.com](https://www.cruciblealbagroup.com/?utm_source=openai)) However, the lack of a strong online presence for PBSANews.co.uk makes it difficult to fully assess the reliability of the report.
Plausability check
Score:
8
Notes:
The claims about the student housing shortage in Dundee and the development of Greenmarket Studios align with previous reports. For instance, in June 2023, Crucible Developments secured a £4.1 million development loan for the project, highlighting the ongoing efforts to address the housing shortage. ([scottishbusinessnews.net](https://scottishbusinessnews.net/scottish-property-developer-receives-4-1m-funding-for-student-accommodation/?utm_source=openai)) The report includes specific details such as the location, amenities, and projected rental income, which are consistent with known information. The tone and language are appropriate for the subject matter. No excessive or off-topic details were found.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative presents recent developments regarding the Greenmarket Studios project in Dundee, with specific details that align with known information. However, the source’s limited online presence raises concerns about the reliability of the report. While the content appears original and plausible, the lack of a strong source diminishes the overall confidence in the information presented.
