A partnership between build-to-rent specialist Moda Living, investor Osborne+Co and MRP, the property development and investment division of construction company McAleer & Rushe, has submitted an outline planning application for the £200 million-plus development at Lancefield Quay.
If permission is granted, Moda Living would take the site through detailed planning, delivery and into operation. It is the firm’s second site in Glasgow and third in Scotland, making it the country’s largest build-to-rent operator, Moda claimed.
The outline planning application has been submitted following a public consultation which took place earlier this year and provided local people with the opportunity to view and feedback on the residential-led proposals. Bosses said the response to the consultation had been “extremely positive”.
Should it secure consent, Moda will work in partnership with Osborne+Co and MRP to transform the site into an “inclusive residential community” of around 730 new homes, in-line with the council’s city centre living strategy.
The homes will be accompanied by “state-of-the-art” amenities designed with tech and wellbeing “intrinsic to the offer”.
The development will regenerate a site that has lain vacant since 2007, driving the regeneration of the city quarter and linking it with the Scottish Entertainment Campus and Media Quarter, as well as the Finnieston area which has undergone its own transformation in recent years.
Oscar Brooks, director, Moda Living, said: “Glasgow has all the fundamentals we look for; it’s a well-connected, forward-looking city which boasts a strong local economy and is focused on growth which is why we are committed as a long-term city partner.
“Construction on our Holland Park 425-home development is well advanced, demonstrating our enthusiasm for the city. We are excited to have the opportunity to develop our vision for the Lancefield Quay site and to be working alongside Osborne+Co and MRP as we bring forward a long vacant site.
“This forms part of our wider strategy and integrated structure to enable us to deliver and operate thousands of high-quality homes per annum right across the UK.”
Conor Osborne, director and founder of Osborne+Co, said: “This application marks an important milestone for what we hope will be a truly transformational development for this area.
“We have taken a strategic approach to these initial proposals and worked hard to ensure they align with Glasgow City Council’s wider regeneration ambitions to open up the waterfront and create a vibrant new location within the city.
“Moda’s involvement in the site will help us realise this ambition to create a single fully integrated development and we are looking forward to continued discussion with the council.”
Stephen Surphlis, managing director of MRP, added: “We are excited about the impact that this development can have on the regeneration of an historic and important area of Glasgow, supporting a vibrant city centre community.
“The community consultation provided us with valuable feedback, with more than 90 per cent of people in support of the residential offering and agreeing that Glasgow needs new homes.”