Singapore-listed Elite UK REIT is planning on entering the UK student accommodation sector with its first two assets in Scotland and Wales.
In November last year, the REIT announced a shift in strategy to push on with disposals as it looked to enter the residential sector.
It is now looking to convert Lindsay House, a former government workspace in Dundee CBD, into a 164-bed PBSA scheme with a GDV of £22m.
In Cardiff, it plans to demolish Cambria House, an office building previously leased by the Natural Resources Body for Wales, to develop a PBSA scheme comprising 200-300 beds.
Estates Gazette understands Elite will appoint MYS Living to operate the assets.
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