OIC invests in Kirkwall student accommodation

Orkney Islands Council is set to invest £465,400 in student accommodation.

The money, from the council’s redevelopment and regeneration fund, will go towards purchasing five properties in Kirkwall from a private developer.

Yesterday, Tuesday, members of the policy and resources committee heard that the developer had received money from the Scottish Government’s innovation and investment fund to build ten 2-bedroom properties, with the condition that five were offered to the council at a price of £90,000 each.

After a brief debate, the committee unanimously agreed to purchase the properties.