Start date for twin Glasgow resi towers

Grant Prior 6 years 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

Galliford Try to upgrade Red Arrows base

Contractor seals quartet of RAF base upgrades
11 months ago

Galliford Try bags £87m Brent Cross build to rent job

Firm picks up another three blocks at Argent's North London £8bn regeneration scheme
12 months ago

Balfour starts £67m Edinburgh school campus

Passivhaus certified campus buildings will replace Liberton High School
1 year ago

Red wins Bristol retirement village £14m expansion

44 extra care flats to be built at former Frys chocolate factory
1 year ago

Caddick bags UK’s largest fertiliser plant job

Yorkshire contractor seals £28m contract for new plant in Yorkshire
1 year ago

Mace wins concrete bunkers for world’s most powerful laser

Firm will build two 7m tall bunkers with 2m thick radiation resistant concrete walls
1 year ago

Robertson to deliver £20m Alloa Wellbeing Hub and school

Design work will now start on Wellbeing Hub and Lochies primary school
1 year ago

Green light for Canada Water next phase of 380 homes

Zone G plan includes major resi tower, supermarket and park
1 year ago

Mace to start £230m Landsec London office job

Timber Square project will pioneer a hybrid cross laminate timber and steel superstructure
1 year ago

British Land multi-storey logistics hub approved

London urban last-mile logistics hub pipeline hits £1.3bn
1 year ago

£350m Birmingham triple tower scheme approved

Vast curving Ringway Centre to be demolished for 1,750 flats development
1 year ago

Midgard lands £245m Tottenham Hale towers

Three towers of up to 38 storeys complete north London regeneration scheme
1 year ago

Go-ahead for Wates £35m Hartlepool leisure centre job

Work on the Highlight waterfront centre to start in November
1 year ago

Green light for 690-home Birmingham Smithfield scheme

Prosperity Group plans to start work in Autumn next year on major Smithfield scheme
1 year ago

Go-ahead for 289 homes next to Saltaire World Heritage site

Ambitious plan to demolish a vacant Bradford office complex for new residential quarter
1 year ago

Plans in for 800-bed Leeds student and retail scheme

Major scheme will replace The Core shopping centre in the city
1 year ago

McAleer & Rushe awarded £60m Barking flats job

Work to start in November on near 200 rental homes project
1 year ago

ISG clinches £155m Cat D prison expansion

Firm to deliver 780 new places at three existing prison locations
1 year ago

27-storey Salford student tower approved

540-bed student block to be built on former site of McDonalds' regional HQ
1 year ago

Morgan Sindall £48m Dumfries school job approved

Building work to start before the end of 2023
1 year ago

Bouygues/Murphy JV tipped for £2.3bn Thames tunnel job

Frontrunner emerges for Lower Thames Crossing 4.2km tunnel job
1 year ago

Vinci/McAlpine JV to start £105m NHS rehabilitation centre

Treasury clears New Hospital Programme job to start main construction
1 year ago

Three giant lab buildings approved at £700m Oxford R&D district

Phase 2 Oxford North office and lab buildings to deliver 460,000 sq ft of space
1 year ago

RG Group to build tallest student block in the world

Contractor confirmed on 45-storey tower in Leeds
1 year ago

Vinci wins major St Helens town centre revamp

£90m first phase includes new market hall, 120-bed hotel and over 60 flats
1 year ago

Work to start this year on Manchester £250m spa resort

Developer Therme gets green light for re-engineered 28-acre Trafford complex
1 year ago

Barhale JV sign-off for £18m Dewsbury sewage works upgrade

Project forms part of Yorkshire Water’s £500m investment in Phosphorous removal
1 year ago

Murphy seals main build on £124m Essex station

Contractor lands main contract after successful start on enabling works package
1 year ago

GMI lands latest £42m phase of lab cluster

Citylabs life sciences complex in Manchester continues to grow
1 year ago

Green light for Canada Water commercial scheme

Twin-tower scheme will offer "a new type of office for London"
1 year ago

Contractor services