Start date for twin Glasgow resi towers

Grant Prior 2 months ago
Share

Legal & General has exchanged contracts on its first Build To Rent scheme in Scotland with construction set to start by the end of this year on the two 18-storey towers in Glasgow.

Legal & General will forward fund Drum Property Group to deliver 324 apartments at the new Buchanan Wharf waterside regeneration area.

Buchanan Wharf is Legal & General’s fourth acquisition in Glasgow over the last 12 months.


Last year, Legal & General began development of a new 160 room hotel; acquired the Scottish court and tribunal building, Atlantic Quay 3; and forward funded the Atlantic Square Development to provide a major new UK Government hub.

Dan Batterton, Head of Build To Rent at LGIM Real Assets, said: “Glasgow has seen very low levels of residential development over the last decade.

“This acute supply and demand imbalance has made it an important target for us, demonstrating our commitment to quality asset selection, with sites cherry-picked by assessing needs-based demand to provide long-term, stabilised cashflows for investors.

“With Glasgow predicted to continue to see notable population growth, this latest acquisition is another great example of Legal & General investing in an area with significant urban regeneration potential and providing large scale sustainable rental schemes which will have a positive long term socioeconomic impact, delivering much needed homes.”

Latest project news

Bouygues signs off East London town hall deal for £110m

Around 500 workers on site at peak periods.
4 weeks ago

McAleer & Rushe gets go-ahead for two Maldron hotels

New Birmingham and Glasgow hotels will cost £85m to build
1 month ago

Telford Homes to start 260 London rental homes scheme

House builder forward funds £100m Equipment Works scheme in Walthamstow
1 month ago

April start for Balfour £55m Plymouth link road

Forder Valley Link Road project given £22m of Government funding
1 month ago

Galliford Try bags £275m Ealing council HQ scheme

Mixed-use West London scheme also includes a library and 470 homes
1 month ago

Buckingham confirmed for £120m Swansea arena

Six months of pre-construction work to now get underway
1 month ago

Lendlease wins £8bn Thamesmead development

Morgan Sindall beaten in race for 11,500 home site
1 month ago

Go-ahead for 200-home Cardiff build-to-rent scheme

Work to start on central Cardiff scheme this summer
1 month ago

Willmott Dixon wins £21m Wakefield swimming pool

Work to start next month on Pontefract Park leisure centre
1 month ago

McAleer & Rushe to start £82m Paddington hotel

Thumbs up to start 620-room Premier Inn and 19 floor aparthotel
1 month ago

Caddick wins £35m York flats and office scheme

Work to start next month on Hudson Quarter scheme
1 month ago

Mace takes control of £140m London School of Economics site

McGee completes demolition as main construction programme gets underway
1 month ago

Kier seals £30m Manchester Met student halls

Three student blocks of student accommodation comprising 6, 11 and 16-storeys
1 month ago

Galliford Try £43m bid wins Broadmarsh bus station job

Nottingham bus station and car park to be built next to shopping centre
1 month ago

Galliford Try wins £50m Assembly Bristol project

Work starts on first of three planned buildings at £150m waterside scheme
1 month ago

£2.3bn London HS2 station contracts awarded

Mace/Dragados and Balfour Beatty/Vinci JVs scoop London stations
1 month ago

BCEGI confirmed for next phase of £1bn Middlewood Locks

Another major win for Chinese contractor at Manchester site
1 month ago

Kier bags star role on £17m Manchester screen school

Work to start before the autumn on School of Digital Arts
1 month ago

Winvic wins £60m Birmingham build to rent job

Work to start in June on 14-storey Lionel House in Jewellery Quarter
1 month ago

Galliard Homes plans next major Birmingham scheme

£165m Soho Wharf scheme will be built opposite Birmingham City Hospital
1 month ago

Kier lined-up for £30m Cheltenham school deal

Gloucestershire County Council chooses contractor for Leckhampton scheme
1 month ago

Tolent wins £12m luxury retirement scheme

Main construction work to start in May at Newcastle site
1 month ago

Kier tipped for £300m City of London fringe scheme

British Land set to start Blossom Street enabling works in Shoreditch
2 months ago

Green light for landmark London office job

Site clearance to start in late spring with piling underway before the end of 2019
2 months ago

McAlpine gets green light for next Broadgate rebuild

Work to start next year on £300m London 1-2 Broadgate project
2 months ago

£200m Liverpool scheme enabling works approved

Willmott Dixon on board for eight-month remediation programme for Pall Mall scheme
2 months ago

Start date for twin Glasgow resi towers

Legal & General makes buy to rent debut in Scotland
2 months ago

Wilmott Dixon wins £23m Salford tower block revamp

Canon Green Campus scheme includes flats overhaul and an 11-storey new build
2 months ago

Firms named for £1bn East London framework

McLaren, Willmott Dixon and Wates win lot 2 of Be First framework
2 months ago

Local Preston firm bags £19m Lancaster Uni business school

John Turner Construction fends off national firms for business school project
2 months ago

Contractor services