News

The long-awaited regeneration of Candleriggs Square, one of Glasgow's most high profile city-centre sites, has moved a step closer following the submission of a major planning application to Glasgow City Council.

The ambitious £300m plan to transform the 3.6-acre site lying at the heart of Glasgow's Merchant City has been developed by a joint venture company bringing together Drum Property Group and Stamford Property Investments, which bought the site in March 2019.

Following four months of public and civic consultation, proposals for the site reveal a high-quality mixed-use scheme combining homes, offices, hotels, restaurants and local amenities together with landscaped open spaces and accessible walkways - including a new public square at the heart of the development.

The planning submission includes a 'Planning Application in Principle' for the entire site as well as detailed applications for the first development phases. Among a number of other operators Drum is looking to bring to Glasgow is TSH, a pan-European hotel group with an innovative hybrid-hospitality concept. A detailed planning application for TSH been submitted. Pending the necessary planning consents, the Drum and Stamford joint venture aim to start work by March 2020.

Candleriggs Square - bound by Wilson Street, Hutcheson Street, Candleriggs and Trongate - is regarded by many as the last and most significant piece of the Merchant City regeneration jigsaw. Originally home to Glasgow's flourishing fruit and vegetable market, for most of the 20th century it was used as a department store before remaining unoccupied and derelict since the closure of the last operator in 1999....