Insights > Deals
ATK gives the Marketgait Apartments the second chance
19 September 2026 | Asset acquisition | UK | 116 beds | Operational
The purchase transfers a closed PBSA asset to a local owner with an existing Dundee student‑housing portfolio.
Key details
Asset type | Operational |
Location | Dundee, UK |
Capacity | 116 beds |
Seller | Marketgait Property Investment Ltd (in administration) |
Buyer | ATK Property Group |
Value | £1.2 million |
Source: The Guardian
ATK Property Group acquired Marketgait Apartments after the asset's Jersey‑based owner entered administration in July following a failure to repay a £5.7 million loan.
The 116‑bed property is within a ten‑minute walk of the universities of Dundee and Abertay but remains closed while fire‑safety works are completed. The scheme last changed hands for £9.5 million in 2018, before its occupancy and capital requirements deteriorated.
ATK already owns the 125‑bed Keiller Court in Dundee.
Strategic context
The acquisition gives ATK a second Dundee student asset and an opportunity to create local operating scale at a heavily reset entry price. Its return case will depend on completing the remediation, reopening the building and rebuilding occupancy, which also illustrates the downside risk in under‑capitalised PBSA assets.
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