DEVELOPER Drum Property Group is to start the next building phase at Glasgow’s Buchanan Wharf to make way for delivery of Legal & General’s 324-home Built To Rent (BTR) scheme.
Drum agreed a deal with Legal & General earlier this year for the first institutionally forward-funded BTR scheme to be delivered in Scotland.
The project will comprise of two 18-storey towers, with the development featuring a dedicated dining space, gym, residents’ lounge, games room, and communal roof terrace.
Drum said this next phase marks an important step in the regeneration of Buchanan Wharf. With the construction of Barclay’s Northern Europe campus HQ underway, the site when complete will encompass more than a million square feet of Grade A office space, residential accommodation, amenities and landscaped public spaces.
Graeme Bone, group MD of Drum Property Group said, “This is another important step in the evolution of Buchanan Wharf, which has quickly established itself as one of Scotland’s largest and most important commercial and residential development sites. With prime office space plus an exciting mix of homes, local amenities and open public spaces, Buchanan Wharf will be a stimulating and attractive environment in which to work, live and to visit. It is now transforming not just this neglected part of the waterfront but the entire city centre of Glasgow, once again placing the River Clyde at the heart of the city’s economic and cultural regeneration.”
Dan Batterton, head of build to rent at LGIM Real Assets added, “We are delighted to be breaking ground on our first BTR development in Scotland. Buchanan Wharf is an exciting scheme, set to have a significant positive socio-economic impact on this area of Glasgow. Across the country, Legal & General remains dedicated to bringing forward large scale, sustainable rental schemes, meeting the increasing demand for quality rental accommodation.”