A PLAN has been drawn up to convert vacant floors at a historic Glasgow city centre building into student accommodation.

Ambassador Group want to refurbish and renovate office and retail block Granite House, on the corner of Trongate and Stockwell Street.

Student rooms would be provided over five upper floors. There would be a total of 289 of cluster and studio apartments.

Existing ground floor retail units would get new uniformed shop frontages. A landscaped rooftop amenity space would be formed and a central portion of the building would be removed to create a new courtyard.

A design document submitted with the planning application asserts: “This offers a positive redevelopment opportunity in an underutilized building within an urban setting which requires reinvigorating.”

The proposal is pending assessment by city council officials.

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 Loans 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 loan 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.

Finance for buy-refurbish-refinance-rent strategies: 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 Bridging Loans: 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.