Monday, November 23, 2020
Real EstateUK

Developer unveils multi-million pound BTR project in Glasgow

Glasgow

Kelvin Properties previously developed Candleriggs Court in the Merchant City

The developer behind Glasgow’s first significant city centre Build-to-Rent (BTR) housing development has delivered a second multi-million pound project.

Mitchell Apartments is the most recent development by Kelvin Properties, which previously developed Candleriggs Court in the Merchant City.

Tenants will be able to move into Mitchell Apartments, a seven-storey, 20 flat development in Finnieston from the start of January.

The show apartment will be available to view next month, but tenants are now able to apply for any of the 11 one-bedroom flats, or nine two-bedroom flats.

After strong demand for Candleriggs Court, which saw the entire development let within six weeks, Kelvin Properties moved ahead with its second project.

BTR is already popular elsewhere in the UK and in parts of mainland Europe and fits in with public policy.

Glasgow’s City Centre Living Strategy (CCLS) outlines the city council’s aim to double the size of its city-centre population over the next 15 years to 40,000.

Kelvin Properties is a development and property investment business with other developments including the Atrium in Broomhill and Sandringham Court in Newton Mearns.

Managing director Stephen McKechnie, who founded Kelvin Properties in 1999, said: This is another hugely exciting development for us.

I identified the site a couple of years ago and was absolutely convinced it would make for a great build to rent project because of the close proximity to the city centre, the Finneston Strip and the University of Glasgow, he said.

Currently, far fewer people live in our city centre than cities such as Birmingham, Manchester and Liverpool but with demand for housing and the changing nature of offices and work, that has to change, McKechnie said. We’re continuing to look for more BTR development opportunities in the city centre and the surrounding areas.

Property investment, letting and management specialists Tay Letting successfully let Candleriggs Court’s 36-apartments within just six weeks.

Director Marc Taylor said he anticipates there will be a similar appetite for Mitchell Apartments.

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