£81.5 Million Build-to-Rent Scheme Completes at Glasgow’s Candleriggs Square

£81.5 Million Build-to-Rent Scheme Completes at Glasgow’s Candleriggs Square image

GRAHAM Construction has delivered the practical completion of the £81.5 million scheme, allowing L&G to progress with the internal fit-out of the building before the first residents move in later this summer.

Developed by a joint venture between Drum Property Group and Stamford Investments, the 3.6-acre Candleriggs Square site is regarded by many as the last and most important piece of Glasgow’s Merchant City regeneration jigsaw.

Designed to meet the increasing demand for affordable and high-quality city centre rental accommodation in Scotland, the 325,000 sq. ft L&G scheme provides 346 apartments together with a range of retail and commercial units at ground floor level creating an attractive and accessible public realm. An entrance lobby opens onto Glasgow’s Trongate, providing direct access to a communal landscaped courtyard at the first-floor level, while a range of roof terraces provide spectacular views across the city.

The building’s completion was marked by the release of drone footage showing how the finished homes form a spectacular cornerstone of the Candleriggs Square regeneration.

Graeme Bone, Group Managing Director of Drum Property Group, said:

“Candleriggs Square is now starting to come alive, fulfilling the development vision we outlined when we first took ownership of the site in 2019. With the completion of the L&G apartments and the opening of The Social Hub Glasgow, we are seeing this vital part of the city centre, which had lain dormant for more than 20 years, take shape in spectacular fashion.

“Candleriggs Square has always been at the centre of Glasgow’s commercial and social development, and this completion will be a huge boost to the area and to local businesses. We can now positively look forward to bringing back to life a very special area which has always been at the centre of Glasgow’s commercial and social development.”

Jimmy House, Construction Director at GRAHAM Building North, said:

“Standing at 17 storeys at its highest point, Candleriggs Square will become a focal part of the city’s skyline, reinstating the Merchant City as a destination of choice for people to live, work and socialise. Today’s handover of the 346 BTR apartments represents an important milestone for the project, and we are pleased to have completed works ahead of schedule.”

Dan Batterton, Head of Residential at Legal & General Investment, added:

“We are delighted to reach completion at Candleriggs Square, bringing a new community to the heart of the Merchant City. Helping to meet Glasgow’s increasing demand for high-quality rental housing, the site offers a well-designed, flexible living space integrated within the broader regeneration of the city centre. We look forward to welcoming our first residents in the coming months."

Drum and Stamford’s joint venture launched the ambitious £300m plan to transform Candleriggs Square when they first bought the site in March 2019. Plans include a high-quality mixed-use scheme combining homes, offices, hotels, restaurants and local amenities, together with landscaped open spaces and accessible walkways, with a new public square at its heart.