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

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

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.

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.

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.”