£10m buy-to-rent flats can revive heart of city centre
A LANDMARK £10million development is to be built in Glasgow’s Merchant City in a bid to turn the city centre into a magnet for new residents.
Candleriggs Court will be the first significant city centre Build-to-Rent housing development.
The 36 apartments have been designed to meet demand for high-end rental properties and help revive the city centre as a hub for more people.
One of Glasgow’s largest private investment companies, Kelvin Properties, is driving the major redevelopment which is now nearing completion with 50 tradesmen on site each day to get the project over the finishing line.
The city’s newest urban community has now opened its show home’s doors ahead of the refurbishment programme completing towards of the end May.
Located within a courtyard in the G1 postcode, Candleriggs Court offers a secluded community environment while providing prime access to the Merchant City’s bars, restaurants and shopping.
Candleriggs Court’s mix of one, two, and three-bedroom apartments will come with German-engineered kitchens from Hacker and Porcelanosa tiling in the bathrooms.
The development will also benefit from bike spaces, private underground residents’ parking and a unique communal garden, offering breathing space in the heart of the city.
BTR refers to the emerging market in private residential stock that would normally be unaffordable to consumers.
Stuart Patrick, chief executive of Glasgow Chamber of Commerce, said: “It’s encouraging to see a continued pipeline of investment into Glasgow’s Build-to-Rent property market.
“The creation of quality housing in prime locations supports round-the-clock city-centre footfall while helping to retain a competitive edge when attracting skilled workers.”