DRUM Property Group and Stamford Property Investments have agreed a joint venture to develop a “significant” mixed-use development project in Glasgow’s Merchant City after acquiring the site.
Candleriggs Quarter has existing planning consent for around 850,000 sq ft of residential, student, hotel and commercial space.
Graeme Bone, group managing director of Drum Property Group said, “We are pleased to be working in partnership with Stamford to acquire such an exciting and significant site. Securing Candleriggs Quarter provides an exciting opportunity to transform this neglected part of the city centre and complete the regeneration of Merchant City. We are looking forward to preparing proposals for a sensitive mixed-use development that will have a variety of high-quality residential accommodation and amenities at its heart.”
Uri Goldberg, managing director of Stamford Property Investments added, “Following previous successful developments in Scotland, we are delighted to have joined forces with Drum Property Group to transform this important city centre site. Candleriggs Quarter offers an unprecedented regeneration opportunity and we are excited to deliver a high quality mixed use development.”
