CBRE has been appointed alongside Scarlett Land & Development to bring a 2.39-acre development site on Glasgow’s Finnieston Street to market, on behalf of Keltbray Developments.
The site benefits from two planning consents for residential-led development, giving purchasers the flexibility to deliver build-to-rent (BTR) or purpose-built student accommodation (PBSA). The first consent provides for 394 BTR homes across two buildings, while the second allows for a 169-home BTR block alongside a 567-bed PBSA block. Both schemes incorporate ground floor retail space and residents’ amenities, with the site offered as a whole or as two separate plots.
Demand for rental and student accommodation in Glasgow continues to outpace supply. CBRE research has found that the city has over 77,000 full-time students but only around 20,500 dedicated student beds, while BTR remains ‘underserved’ compared with similar UK regional cities, with only around 2,000 homes operational.
David Smith, executive director at CBRE, said, “Finnieston Street offers a rare opportunity to secure a cleared site with planning already in place, in one of Glasgow’s most sought-after neighbourhoods. Finnieston has flourished over the last decade, and with fresh investment planned at the neighbouring SEC, its momentum shows no sign of slowing. Opportunities like this, with the very best of the West End on the doorstep, rarely come to market. We are pleased to be marketing what is one of the most compelling development opportunities in Glasgow right now, and we anticipate a strong volume of interest from prospective buyers.”
Will Scarlett, founder and director at Scarlett Land & Development, added, “Whilst there are other consented sites available in Glasgow, the strength of location in Finnieston propels this site to the top of those suitable for living sector uses.”
