Property developer Chris Stewart Group shakes hands on tie-up helping bring 'new style of accommodation' to Glasgow
A Scottish property developer has officially teamed up with a serviced apartment operator, with the duo joining forces to bring a “new style of accommodation” to Glasgow city centre.
Edinburgh-based Chris Stewart Group (CSG) has inked a joint venture agreement with London-based Cheval Collection – and they are working together on an apartment building due to open in early 2024, part of the Love Loan development off George Square.
The development will house 168 studio and one-bedroom apartments for both short-term guests and long-term residents within CGS’ Love Loan site, and Cheval Collection will manage the design-led accommodation under its new brand My Locanda.
With the start of construction marked by a site visit by CSG's chief executive Chris Stewart and Cheval Collection’s managing director Mohammed Almarzooqi this week, the apartment building will be the first My Locanda worldwide, as Cheval Collection rolls out a strategy for the brand that targets major international cities.
It says My Locanda will provide an “affordable price point for guests to the city, business travellers and longer-term residents who want an urban base that feels part of the local community”.
My Locanda will focus on accommodation, but also include food and drink, with lively community spaces, including communal kitchens, co-working areas, and meeting rooms. Also part of the offering is the Wall of Curiosity, which lets residents borrow items sourced from the community for their stay.
As part of the Love Loan development, the building will also be surrounded by a new collection of retailers, food and leisure operators and artisanal producers, the two collaborating firms added.
CSG says it has a well-established relationship with Cheval Collection, having brought in the specialist operator to manage its properties in Edinburgh. Cheval is among international brands that CSG – whose operational assets include The Edinburgh Grand, Old Town Chambers, Abbey Strand Apartments and Courtyard by Marriott Edinburgh – has brought to Scotland, it also stated.
"Its international outlook and design-led approach will attract both short and long-term residents, and matches our vision for the development, which will include a range of high-quality, cosmopolitan lifestyle, retail and food and drink brands.”
"Having worked successfully with Cheval in Edinburgh, I’m delighted to continue the relationship with this new venture in Glasgow.”
Mr Almarzooqi said: “Our aim is to create a vibrant lifestyle destination that draws people to the city centre.
"My Locanda will appeal to those with an independent, youthful mindset travelling for leisure or business, solo, as a family or in groups of friends keen to find a stylish city base where they can engage with the local scene.
"Longer-stay residents will include students, those relocating for business, or those wanting a regular address in the city.
"Working with CSG we have found a partner that shares our values for great design, and for taking an innovative approach to city-centre living.”
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