The fast growth of the BTR sector has continued with Drum Property Group completing the construction of 324 Build to Rent (BTR) apartments on behalf of Legal & General Investment Management (LGIM) at Buchanan Wharf on Glasgow’s Clydeside
The 280,000-sq ft complex, named ‘Solasta Riverside’, has been purpose designed to meet the increasing demand for high-quality rental accommodation across Scotland.
Solasta Riverside welcomes prospective residents
Composed of two 18-storey towers, Solasta Riverside includes a dedicated dining space, gym, residents’ lounge, and games room. Taking full advantage of its 'spectacular' location overlooking the River Clyde, it also incorporates a 4,250 square foot communal roof terrace for its residents to enjoy.
Graeme Bone, group managing director of Drum Property Group, welcomed the completion of Solasta Riverside, saying: “This is another important milestone for Buchanan Wharf and the transformation of what was a large, neglected industrial brownfield site into a thriving commercial and residential community. The new apartments and facilities will bring an exciting dynamic to the area, making Buchanan Wharf a stimulating and attractive environment in which to live, work, and visit.”
Drum’s Buchanan Wharf is an award-winning £500 million mixed-use development within walking distance of Glasgow Central Station and the International Financial Services District – conveniently linked by the adjacent Tradeston Bridge.
Mike Powell, head of transactions, BTR, at LGIM Real Assets, added: “With a commitment to transform UK towns and cities, creating jobs and driving economic growth, the delivery of 324 high quality, well-located rental accommodation is an important part of Legal & General’s regeneration activity in Glasgow city centre.”
Powell concluded: “The city has seen particularly low levels of residential development over the last 10 years and an increasing demand for high quality, well-located rental accommodation in the city centre. This acute supply and demand imbalance means the completion of our BTR development at Buchanan Wharf will bring a long-term sustainable rental scheme to Glasgow, meeting the demands of this vibrant and fast-growing city.”
Regeneration plans coming to fruition for Scotland
The regeneration of Buchanan Wharf has been one of Scotland’s most significant building projects, with Solasta Riverside sitting next to Barclays state-of-the-art Northern Europe campus headquarters, which opened last year.
Once complete in 2023, the Clydeside site will be made up of prime Grade A office space, residential accommodation, local amenities, and landscaped public spaces.
The final building at Buchanan Wharf – a 75,000 square foot office headquarters for The Student Loans Company – is currently being constructed by Drum, which is also forward funded by LGIM.