ReGlasgow

PLANNERS Urge Go-Ahead For Charing Cross Student Skyscraper

16 August, 2024 | News

A 35-STOREY student housing block is being recommended for approval by Glasgow planning officials.

Developer Watkin Jones wants to redevelop the Portcullis House site, between India Street and Newton Street, beside the M8 at Charing Cross.

Councillors on Glasgow’s planning committee are due to consider their application on Tuesday.

The complex would be known as The Ard and would have 784 student rooms plus ground floor commercial units.

City planners are in favour of the proposal. In their report to the committee they state that the application complies with the relevant policies of the city’s development plan.

They add: “The proposed scheme has been designed to respond to the existing street context, whilst delivering a modern ‘landmark’ where it is felt that height can be accommodated on the site.

“It is considered that in this circumstance, the proposal can be successfully integrated and provide a positive contribution to
the built environment as it has been designed to respond to this.”

A design document included with the application states: “The development is staggered in form, with the tallest element being 34 storeys with a lower shoulder of nine to 11 storeys relating to the shoulder of the neighbouring Scottish Power building. The building will be managed by a sole purpose-built student accommodation operator.”

Vacant land next to the site is subject of a proposal for student housing and flats

It continues: “The proposed high-quality student accommodation is in a prime urban location. It boasts excellent access to amenities and transport links, repopulating the City Centre and benefiting local businesses as part of the overall regeneration of Blythswood and the M8 corridor.

“There is huge demand in Glasgow for purpose-built student accommodation, which offers well-managed accommodation, with access to a wide range of onsite amenities.

“The high proportion of shared amenity spaces will ensure that the ground floor and roofscapes help activate the newly enhanced streetscape around the building, playing a positive role in the regeneration of this part of Blythswood.

“The double height amenity space at the top of the building…will shine like a beacon at night, delivering a new a distinctive landmark on the City skyline.”

The document also states: “A large part of the ground floor space to the north of the site, opposite Charing Cross station, will be for third party uses.

“This will include a cafe and community spaces, helping further activation at street level and improving the station setting.

“Glasgow Social Enterprise Network shall occupy a ground floor unit at a peppercorn rent. As an organisation, they work closely with the city’s universities and create the opportunity for social enterprises to connect with each other to learn, share and grow.”

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 products that may be of interest.

Residential development funding 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.

Bridging loans for property development Scotland: 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 Let Development Finance: 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.

Below market value property funding: 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.

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