Fife- based housing association agrees record deal in Glasgow’s east end
Housing charity LAR has completed a record deal, purchasing more than 60 homes in Glasgow.
The Fife- based organisation said it had agreed to purchase 64 home sat a site being developed by Cruden Estates on Helenvale Street – a short walk from the Sir Chris Hoy Velo - drome in the city’ s east end. It marks LAR’S single biggest development across Scotland.
The organisation, which was set up two years ago to provide much needed mid-market rental properties across Scotland, has agreed to purchase the units for an undisclosed sum.
Chief executive Ann Leslie said: “We’re delighted to have concluded this deal, which is just our second in Glasgow. Local housing associations and the City Council have been very welcoming to us and we will certainly be looking for other sites in Glasgow in due course.
“We have 21 sites already built or under construction across Scotland and this will be our largest to date. These will be excellent homes just a short distance from the city centre and we expect considerable interest in due course from prospective tenants.”
LAR and Cruden have also collaborated on a project in East Lothian, with construction nearing completion at a shore front location in Cockenzie.
Crud en group managing director, Kevin Reid, said: “Hopefully this will be the star t of a close working rela- tionship that we can develop onwards.”
The work will be completed in phase sand LAR expects its first tenants to move in by summer 2019. The 64 homes on Helen vale Street are all two-bed flat sand construction work is scheduled to start “imminently ”. LA R’ sot her Glasgow development is also in the east end, at the site of the former Belvidere Hospital.