Get Living has sold a £200m build-to-rent (BTR) development site in Glasgow to Galliard Apsley Partnership – a joint venture between Galliard Homes and Apsley House Capital – for an undisclosed sum.
The scheme has existing consent to build 821 rental homes and 681 purpose-built student accommodation units on a 7.5-acre site behind High Street railway station.
Get Living said the proceeds from the sale would strengthen its balance sheet and “allow for effective recycling of capital” within its portfolio.
Rick de Blaby, chief executive of Get Living, said: “The disposal of the Glasgow site is the result of a review of our development strategy, enabling us to recycle capital into our operational and development assets, within which we have four schemes launching in the next two years. We wish Galliard Apsley Partnership and the city of Glasgow every success in their development of this important site.”
Gerard Nock, chairman of Apsley House, added: “Throughout history, the site has played an important part in the development of Glasgow and Merchant City. Strategically located and well connected, we will submit a new application that will bring the site back to life and enhance the local area with a design-led urban scheme that provides a mix of tenures, increased connectivity, and high-quality public realm to benefit residents and the public.”
Stephen Conway, CEO and executive chairman of Galliard Homes, said: “We are delighted with this significant development in Glasgow, a city with a rich heritage and vibrant future. This site aligns perfectly with our vision of turning urban spaces into thriving communities. Together with Apsley House Capital, we are committed to delivering a high-quality, mixed-use development, providing much-needed rental and student housing.”
