News

‘Topping Out’ of 346 Apartment Build-to-Rent Complex Marks Next Step in the £300 Million Merchant City Regeneration

The £300 million transformation of Candleriggs Square in Glasgow's Merchant City has reached another significant development milestone with the completion of structural work for a 346-apartment build-to-rent (BTR) complex, forward funded by Legal & General.

Candleriggs Development 2 Limited - the joint venture between Drum Property Group and Stamford Property Investments - first agreed a deal with Legal & General Investment Management Real Assets in 2020 to bring the £81.5 million apartment complex to the 3.6-acre Candleriggs Square site, lying at the heart of the city's popular Merchant City area.

Designed to meet the growing post-lockdown demand for affordable and high-quality city centre rental accommodation in vibrant city centre locations, the 325,000 sq. ft building will provide 346 apartments together with a range of retail and commercial units at ground floor level creating an attractive and accessible public realm.

A generous entrance lobby will open onto Glasgow's Trongate, giving direct access to a communal landscaped courtyard at the first-floor level, while a range of roof terraces will provide spectacular views across the city.

The ‘Topping Out’ of the building marks a new high point of the much-anticipated regeneration of the Candleriggs Square site. Also currently under construction is the 500-room hotel and leisure complex owned and operated by the pioneering hotel brand The Social Hub - formerly known as The Student Hotel Group - which is due for completion later this year.

Senior representatives from Drum, Legal & General and building contractor Graham Construction gathered to mark the occasion with a traditional Topping Out ceremony, each recording their signatures on the last concrete pour on the highest part of the building.