Glasgow's first major build to rent development is now complete

Glasgow’s first major city centre build to rent (BTR) housing development is now fully let following just six weeks of advertising by property firm Tay Letting.

From left: Marc Taylor, director at Tay Letting, and Stephen Mckechnie, managing director at Kelvin Properties. Picture: Contributed

The 36-apartment Candleriggs Court complex in Merchant City, completed last week, has a gross development value of more than £10 million.

Tay said the development had met with high levels of occupier demand as the BTR concept, which is well-established in England and Europe, has proved popular upon its introduction to the Glasgow market.

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Tay Letting and private investment company Kelvin Properties - the duo behind the development - are aiming to provide more BTR units to meet elevated levels of demand for city living, particularly among millennials.

Candleriggs Court complex in Merchant City is now fully let. Picture: Contributed

Tenants between the ages of 24 and 34 accounted for 60 per cent of Candleriggs Court’s letting deals.

Director Marc Taylor said: “Candleriggs Court is a unique development in Glasgow. It offers affordable accommodation in the heart of the Merchant City, while delivering a secluded community just minutes’ walk from the best bars and restaurants the city has to offer.

“BTR developments will play an increasingly important role in Glasgow over the coming years.”