XLB Property

Detailed plans lodged for £90m build to rent tower on Glasgow waterfront

The ongoing revitalisation of Glasgow’s waterfront is poised to take a major step forward with the submission of a detailed planning application for a 500-apartment build-to-rent development on the banks of the Clyde.

The project at Central Quay on the Broomielaw is being led by investor, developer and property manager PLATFORM_ which said it will deliver high-quality, state-of-the-art homes to cater for a range of people living and working in the city.

Pending detailed planning consent, which is anticipated at the end of 2018, PLATFORM_ hopes to start construction of the apartments by the second quarter of 2019, with a scheduled completion date of summer 2021.

Initial planning in principal was granted for the seven-acre Central Quay site at the beginning of 2018 following a masterplan formulated by Harbert Management Corporation and XLB Property, together with Keppie and LDA Design.

Designed in partnership with Keppie, the development forms part of a wider masterplan at the Clydeside Central Quay area, which also includes 300,000 sq ft of office space and a 150 room hotel.

The PLATFORM_ managed accommodation will offer one of Scotland’s first build-to-rent opportunities, modelled on the successful and rapidly expanding concept first seen in London.

Offering a range of accommodation from studio apartments through to three-bedroom flats the development will incorporate its own shared residents lounge, onsite-concierge, roof terraces, gym, games room and a co-working space.

Matt Willcock, development director at PLATFORM_, said: “Glasgow is thriving, and our new development aims to provide accommodation which meets the demands of its growing, highly-skilled and modern workforce. Build-to-rent is a rapidly growing concept around the UK and we’re proud to offer one of the first developments in Scotland. It’s a form of accommodation we expect to continue to see across the UK, and one which will play a significant role in helping Glasgow attract and retain talent to support its major economies.

“The site will help further regenerate the Finnieston and Clydeside areas, providing award-winning building design and living space in the heart of a popular, well-connected part of the city.”

Richard MacDonald, director at Keppie Design, said: “The PLATFORM_ Central Quay design has evolved to include an iconic feature tower which will greatly enhance the Clyde Waterfront and Glasgow’s skyline. The high quality public realm and design of the scheme will also significantly improve the area.

“We look forward to being able to play a role in sustaining Glasgow’s image as a destination city for living and working and being able to further contribute to Glasgow’s Clydeside regeneration drive.”

Consent granted for mixed-use quarter in central Glasgow

Planning permission has been granted for a new mixed-use quarter including 400 new homes in central Glasgow.

The masterplan for Central Quay, a seven-acre site on the western edge of Glasgow city centre, also includes over 300,000 sq. ft. of offices, a 150-bed hotel, food and retail units and an extensive public realm.

Central Quay is prominent from the Kingston Bridge and has been a brownfield site for several years. It is bounded by Anderston Station and the river Clyde and is owned and managed by Harbert Management Corporation (Europe) LLC and XLB Property. Both are advised by GVA and CBRE and the masterplan was designed by architects Keppie Design.

Tony Lawson of XLB said: “Central Quay is a significant site and its regeneration is long overdue. It will now provide a major new mixed-use quarter to the western edge of Glasgow City Centre close to the SSE Hydro, Scottish Exhibition Centre and major transport hubs.

“The masterplan is designed around a vibrant high-quality environment, providing new homes and offices plus supporting amenities. Harbert Management Corporation (Europe) LLC and XLB Property are in discussions with a major PRS developer to ‘pump prime’ the waterfront site. The first phase of development is expected to commence towards the end of 2018.”

Due to Central Quay’s location on the periphery of Glasgow city centre, the Grade-A office space will be available to pre-let at significantly less than city centre rents, which are now in excess of £30.00 per sq. ft. and reliant on refurbished stock with little speculative development in the pipeline and no new Grade A space with large floor plates anticipated in the city centre until 2021.

As well as the Central Quay masterplan, there is presently 30,000 sq. ft. of office space for rent at the adjacent 2 Central Quay.