Build-to-rent (BTR) developer and private rented housing operator PLATFORM_ has secured detailed planning permission from Glasgow City Council for a £100m, 498-apartment BTR development on the banks of the River Clyde.
The scheme is located on Broomielaw, one of Glasgow’s major thoroughfares.
The development will consist of a mix of high-quality studio, one-, two- and three-bedroom apartments for rent, spread across four blocks ranging from six to 20-storeys in height.
Similar to previous projects completed by PLATFORM_, rents will be priced to be affordable to more than 50% of workers locally.
The homes will be some of the first purpose-built for renting in Scotland. They will be located amidst co-working spaces, a shared residents’ lounge, on-site concierge, roof terraces, fully kitted-out gym and games room.
The Finnieston development is located a three-minute walk from Glasgow’s financial district.
PLATFORM_ expects construction to commence in the third quarter of 2019, with completion in 2021.
The development, designed with Glasgow-based architects Keppie, is part of a wider masterplan at the Clydeside Central Quay area, which includes 300,000ft² of office space and a 150-room hotel as well as new housing.
PLATFORM_ development director Matt Willcock said: “We’ve been working closely with architects, designers and members of the city council over the last few months on the Central Quay site and are pleased to have received approval for the development.
“Build-to-rent is soaring in popularity across the UK for people who want flexible, sociable and cost-effective living, with the ability to walk or cycle to work high on the agenda.
“This development meets that criteria and is suitable for a range of people – couples and families alike.
“The next phase of the project will begin early this year, starting with appointing contractors with a view to having spades in the ground by the third quarter of 2019.”
The BTR sector is expanding rapidly, with nearly 140,000 homes either completed, under construction, or in planning.
Glasgow Chamber of Commerce CEO Stuart Patrick said: “A development of this scale is a real boost for the Broomielaw, bringing 500 new homes to an area perfectly situated between the city centre and West End.
“Not only will it create hundreds of jobs during each phase, but we’re extremely supportive of plans for 300,000 sq ft of commercial space and a 150-room hotel – adding to the city’s hospitality offering.
“Glasgow Chamber of Commerce welcomes another forward-thinking proposal for centrally located residential accommodation, helping to drive footfall into the city while strongly appealing to skilled workers who want to live in close proximity to their workplace.
“It’s been an incredibly productive period for plans along the river – with a strong pipeline of developments stretching from Tradeston right along to Partick and I’m very much looking forward to watching PLATFORM_’s scheme progress.”
Image: The BTR development on the banks of the River Clyde. Photo: Courtesy of PLATFORM_.