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www.glasgowchamberofcommerce.com INVESTMENT New players see boom in
Glasgow’s build-to-rent sector G
lasgow’s upmarket build-to-rent sector has been boosted from deals that pave the way for two city-centre neighbourhoods. Get Living, the residential investment firm
backed by clients of Delancey, Qatari Diar and APG, is developing its site in Glasgow for its first scheme outside London. It plans to build more than 600 homes for rent with a value of about £200m. Meanwhile, Moda and Apache Capital Partners are progressing with their build-to-rent scheme in Glasgow, after buying the former Strathclyde Police headquarters in Glasgow. The firms are now redeveloping the Pitt Street complex into a build-to-rent neighbourhood, with co-working space for start-ups and health and wellbeing facilities nestled in among 433 apartments designed exclusively for rent. Designed by Glaswegian architects HAUS Collective, the homes at Holland Park will be spread over four blocks around a large courtyard. Tony Brooks, Managing Director at Moda, said: “By being both the developer and the landlord, we can ensure the residents of Holland Park have the best possible experience, having designed the scheme, from the ground up, for rent.”
Why is the rental sector in central Glasgow so buoyant? Rick de Blaby, Executive Deputy Chairman of Get Living, said: “Our research has revealed a real appetite for high- quality, professionally managed, middle-market rental homes in safe city neighbourhoods. What’s more, people want access to a wide range of amenities and well- maintained public spaces.” His company’s significant investment in the High Street
area is part of an emerging Innovation District, offering homes with a range of new benefits for the occupants. “Our residents get to live in great homes in a vibrant
part of a wonderful city with a wealth of leisure, retail and food and drink options on their doorstep. Plus, our residents are safe in the knowledge they have a reliable on-site team they can call on 24 hours a day.” The new players have a strong neighbourhood-focused approach and are working closely with the Council, local groups and businesses in the city.
What kind of accommodation are younger professional people seeking? “We listened carefully to local people when working on our plans for the High Street area and their views have helped shape the plan for a new neighbourhood. What is clear from this, and our considerable experience on other developments such as London’s East Village, is that people enjoy the flexibility and security of renting from an operator like Get Living,” said Mr De Blaby. Increasingly, say the new players, people yearn to live in a
safe, well-managed home in an attractive green space at the heart of a bustling city. Institutional landlords and the build- to-rent sector have made great strides in recent years, and Moda and Get Living are remodelling the rental experience with innovative initiatives, such as scrapping deposits. “As well as creating thriving neighbourhoods, the
flexibility we offer suits modern lifestyles. Whether it be an NHS worker, an IT expert or a university employee, people who want to live in central Glasgow are looking for a great experience and a place to call home.”
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