{"id":83254,"date":"2020-09-30T13:23:42","date_gmt":"2020-09-30T12:23:42","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=83254"},"modified":"2020-09-30T13:23:42","modified_gmt":"2020-09-30T12:23:42","slug":"candleriggs-square","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/candleriggs-square\/83254\/","title":{"rendered":"\u00a381.5m funding to commence Glasgow Build-to-Rent scheme"},"content":{"rendered":"

Legal and General<\/a> is set to invest \u00a382m into forward funding the first phase of a \u00a3300m regeneration scheme at Candleriggs Square in Glasgow<\/h2>\n

LGIM Real Assets<\/a> will provide the forward funding of an \u00a381.5m mixed-use Build-to-Rent scheme in Candleriggs Square, Glasgow.<\/p>\n

The scheme will deliver 346 Build-to-Rent<\/a> homes, 17 parking spaces and 12,800 sq ft of commercial space.<\/p>\n

The 17-storey tower at Candleriggs Square will comprise a mixture of studio, one-, two- and three-bedroom properties, including six duplex penthouse apartments.<\/p>\n

The scheme will make up part of a \u00a3300m Drum Property Group<\/a> plan to transform Candleriggs Square. This will include a 3.6-acre regeneration area which will provide a mix of high-quality homes, offices, hotels, restaurants, amenities and landscaped open space.<\/p>\n

\u2018The best possible experience for renters\u2019<\/h3>\n

Dan Batterton, head of BtR at LGIM Real Assets, said: \u201cGlasgow faces a significant undersupply of high-quality rental accommodation and, within the coming decade, will see its population increase as it continues to establish itself as one of the UK\u2019s best cities to live and work.<\/p>\n

\u201cThe site is located in a prime location and, alongside Legal & General\u2019s Buchanan Wharf scheme, is the city\u2019s only high-density build to rent product.<\/p>\n

\u201cThrough our BtR Fund we want to create the best possible experience for renters, providing high-speed digital connectivity, dedicated workspace and exercise facilities, all of which are essential in a post-covid world<\/a>.\u201d<\/p>\n

\u2018Long-awaited regeneration\u2019<\/h3>\n

Graeme Bone, managing director of Drum Property Group, commented: \u201cThe L&G deal is testament to the unwavering commitment and confidence we have placed in both the Candleriggs Square site and Glasgow city centre, even during these most testing of times.<\/p>\n

\u201cIt represents a significant step forward in the long-awaited regeneration of one Glasgow\u2019s most prominent gap sites, driving forward the evolution of Candleriggs Square which has quickly established itself as one of Scotland\u2019s largest and most important commercial and residential development sites.<\/p>\n

\u201cThis will be a huge boost to the area and to local businesses, who are in desperate need of some good news right now.<\/p>\n

\u201cWe can now look forward to a once-in-a-generation opportunity to transform a very special area which has always been at the centre of Glasgow\u2019s commercial and social development.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Legal and General is set to invest \u00a382m into forward funding the first phase of a \u00a3300m regeneration scheme at Candleriggs Square in Glasgow.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[830,676,283,572,656,747,669,861],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-83254","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-build-to-rent","8":"tag-construction","9":"tag-finance","10":"tag-housebuilding","11":"tag-housing","12":"tag-property","13":"tag-regeneration","14":"tag-rental-sector"},"acf":[],"yoast_head":"\n\u00a381.5m funding to commence Glasgow 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