New flats and offices in pipeline as 'one of Glasgow's most exciting development prospects' changes hands

A derelict development site next to the River Clyde in Glasgow has changed hands in a move that should lead to new housing, student accommodation and offices.

Property developer Summix Capital has bought the site, which includes a current office building at 2 Central Quay, as well as a neighbouring 4.4-acre brownfield site, from XLB. Located between the city centre and the west end, the development site is immediately adjacent to Finnieston, one of Glasgow’s fastest-growing districts.

The existing office building, extending to more than 79,000 square feet, is arranged over a ground and three upper floors and covers some two acres. NHS Education for Scotland currently occupies part of the building, but Summix noted that there was potential for other occupiers.

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The property firm has outlined “exciting plans” to deliver a development that includes private for-sale residential dwellings with family housing, affordable flexible office space and purpose-built student accommodation, with the provision of commercial space on the ground floor. It noted that the site, in conjunction with land to the south, benefits from planning permission in principle for a mixed-use development obtained in 2018 by XLB. This includes offices, residential, hotel and associated ground floor commercial uses with access, parking, landscaping and associated works.

The southern parcel of land was sold separately by XLB to Platform in 2018, with the latter firm currently constructing 498 build-to-rent (BTR) apartments. The building recently marked its topping out and comprises four blocks, one of which, at 20 storeys, is one of Glasgow’s tallest buildings.

Stuart Black from Summix said: “This is a great opportunity to redevelop a prominent site at Central Quay, one of the last major pieces of brownfield land in the city. It provides us with the opportunity to progress our proposals for an exciting mixed-use development, delivering homes, employment and investment into Glasgow. Central Quay is excellently located, being immediately adjacent to Finnieston, one of Glasgow’s fastest growing neighbourhoods and is prominently positioned at the gateway to the city centre. We look forward to engaging with the community on our proposals for this in due course.”

Will Scarlett from Scarlett Land and Development and Drew Wallace from DLA Piper acted for Summix Capital in the site purchase, while Douglas Wood of Avison Young and Audrey Harrow from Burness Paull acted for XLB as the vendor.

Will Scarlett described the site as “one of the most exciting development prospects in Glasgow”, adding: “Large scale prime sites such as this rarely come to the market in the city and this one has lain derelict for a considerable period of time. Its redevelopment by Summix will be a welcome addition to the community.”

An aerial view showing the Central Quay development site in relation to Glasgow city centre.An aerial view showing the Central Quay development site in relation to Glasgow city centre.
An aerial view showing the Central Quay development site in relation to Glasgow city centre.

Douglas Wood of Avison Young said: “The site is an outstanding development prospect for Summix and we are pleased to have acted for XLB in the sale of it. The initial sale of XLB’s waterfront site to Platform has helped unlock the development opportunity for the remainder of the site for Summix.”

Summix has delivered thousands of homes in the UK and Ireland since its foundation in 2006.

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