REVISED plans are being drawn up for Glasgow’s massive High Street goods yard site following sale of the land to a different developer.
Build-to-rent operator Get Living secured planning permission in February 2023 for an ‘intergenerational community’ with 821 flats for rent and 681 student accommodation rooms with a mix of retail, leisure, food and drink and commercial/business space.
But Get Living have now sold the 7.5-acre derelict site between Collegelands and Bell Street, beside Parsonage Square, to Galliard Apsley Partnership, a joint venture between Galliard Homes and Apsley House Capital focusing on large-scale brownfield regeneration.
Apsley House Capital chairman, Gerard Nock, said: “We will submit a new application that will bring the site back to life and enhance the local area with a design-led urban scheme that provides a mix of tenures, increased connectivity, and high-quality public realm to benefit residents and the public.”
Stephen Conway, chief executive and executive chairman of Galliard Homes, said: “We are delighted with this significant development in Glasgow, a city with a rich heritage and vibrant future. This site aligns perfectly with our vision of turning urban spaces into thriving communities. Together with Apsley House Capital, we are committed to delivering a high-quality, mixed-use development, providing much-needed rental and student housing.”
A proposal of application notice has already been lodged with Glasgow City Council, with public consultation now required before a planning application can be made.
As well as residential properties — including rental flats and co-living units — plus student accommodation, the development proposals encompass retail, food and drink, business and commercial space, non-residential institutions and assembly and leisure uses.
The application approved last year was itself a major revision from an original masterplan approved in 2018.
Get Living chief executive, Rick de Blaby, said: “The disposal of the Glasgow site is the result of a review of our development strategy, enabling us to recycle capital into our operational and development assets, within which we have four schemes launching in the next two years. We wish Galliard Apsley Partnership and the city of Glasgow every success in their development of this important site.”
Empowering Scotland’s property developers of every size, with funding solutions to help you rise.
Evolve Finance are a Glasgow-based commercial finance brokerage serving the UK, specialising in all types of property finance for Property Developers, Landlords and Investors and offering innovative finance solutions, they welcome complex cases and back their experience to add value to any project.
Here’s just some development finance products that may be of interest.
Development funding for projects in Scotland: For projects from £750,000 to circa £50,000,000, this facility is typically for the purchase and ground up development costs of new build residential projects, large residential refurbishment projects or commercial projects with the loan repayment coming from the sale proceeds or re-financing to a term loan.
Scottish bridging finance options: This facility is typically used for projects ranging from £50,000 to £3,000,000, covering purchase and development costs of anything from one-bedroom flats to large commercial-to-residential conversions, as well as smaller new build developments like a single detached house or gap site projects of 6–12 flats.
Build-to-rent project financing options: Build to Rent projects also known as Build to Let are gaining traction, with this facility funding projects from £750,000 to £50,000,000, typically for large-scale refurbishments and new build residential flats. The development finance transitions to a long-term commercial mortgage upon completion.
BMV property funding solutions: Below Market Value Bridging Loans allow you to borrow up to 100% of the purchase price when the property’s purchase price is lower than its open market value, helping you maximise leverage opportunities and make the most of discounted property deals.
