Exciting plans to develop a key site in Glasgow's Merchant City
have been confirmed.
Candleriggs, a 50/50 joint venture between the investment arm of
Mace and funds managed by Mercer Real Estate Partners,
has purchased the well known site owned by Selfridges, bordered by
Wilson Street, Brunswick Street and Candleriggs.
Many Glaswegians remember the site fondly as home to the iconic
Goldbergs department store and more recently, it was used
successfully as a temporary leisure zone during the Commonwealth
Games.
The new mixed use development will include residential and
retail elements and Candleriggs has assembled a team to develop
plans, with award winning Richard Murphy Architects leading on
design and JLL advising on planning.
A planning application is envisaged by the end of 2014 and over
the next few months, the team will be engaging with local
stakeholders to obtain their view on the proposals.
Chief Operating Officer of Investment for Mace, David Grover said: "Glasgow is undergoing
a huge transformation at the moment and we're delighted to be
working on such a great project. This investment compliments our
wider portfolio of projects around the UK focused on mixed used
urban regeneration and we'll be bringing our expertise to this
development."