Build To Rent developer and operator PLATFORM_ has announced its first scheme in Scotland and an expansion of an existing development in Exeter.
The company, which already has 580 homes under management in the joint venture in key commuter towns and employment hubs across England, has acquired a two-acre site in Central Quay, a major brownfield regeneration project in Glasgow.
Purchased from Harbert Management Corporation and XLB Property, who secured planning permission for the Central Quay masterplan last month, the acquisition marks PLATFORM_’s entrance into the Scottish rental market.
The project, one of the first examples of BTR in the city, will deliver 400 purpose-built rental homes on the site, which will be constructed around a landscaped courtyard and come with a concierge, residents’ lounge and gym. The apartments will overlook the River Clyde and sit just to the west of the city centre.
It will be a part of the Central Quay regeneration, which will offer offices and a 150 room hotel in addition to the apartments. The Glasgow site is the company’s second new-build project after its 350 unit scheme in central Sheffield, which was announced last April.
The company is also expanding an existing Exeter scheme, which is a joint venture with Invesco Real Estate.
PLATFORM_ has a target to build 5,000 units within five years. The company currently has a pipeline of 1,500 units, and says it is actively seeking further sites.