ReGlasgow

STUDENT Accommodation Plan For City Centre Office Site

12 June, 2024 | Student Accommodation

CONSULTATION is to take place over a plan to replace redundant Glasgow city centre offices with student flats.

McLaren Property, a developer of residential and student accommodation, is seeking feedback on initial proposals for 285 Bath Street.

A public drop-in information event takes place on Tuesday (18 June) at The Renfield Centre, 260 Bath Street, G2 4JP. Information will also be available on 285bathstreet.co.uk.

Proposals include a ground-floor commercial space that could be used as a base for a local community group, as a café, or retail unit.

McLaren Property’s divisional managing director, David Atherton, said: “It’s fantastic to be putting forward our initial proposals to bring this Glasgow city centre site back to life.

“We want to deliver best-in-class student homes to the city, which will help address the widely reported shortage of student accommodation and support both the universities and Glasgow to retain and develop young talent.”

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 Loans for Scottish Property Projects: 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 Finance options in 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.

Property Portfolio Building Strategy: The Buy, Refurbish, Refinance, Rent (BRRR) strategy is a highly effective method that enables you to rapidly grow a substantial, cash-flowing buy-to-let property portfolio, helping you maximize your investment returns and build long-term financial security through property.

Below Market Value Finance: 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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