Glasgow's commercial property sector has been hitting the
headlines again this month.
IFSD based investors, Maven
Capital Partners have purchased Mitchell House on Bath Street
and, in conjunction with project managers Calmont Group, will
invest £5.5 million converting the currently empty building to
studio accommodation for 70 students over six floors. Completion is
scheduled in time for the 2015/16 academic year.
As one of the most under-supplied purpose-built student
accommodation markets in the UK, with occupational demand on a
firm upward trajectory and an increasing number of overseas
students coming to the city to study, Glasgow's student
accommodation sector is producing positive rental growth and has
demonstrated its resilience throughout the economic downturn.
And, Arup Group has been confirmed as the latest office occupier
of 1 West Regent Street, the new Grade A development rapidly
approaching completion.
Arup has taken the entire seventh floor, comprising 13,681 sq ft
on a ten year FRI lease and will move its Glasgow operation there
later this year.
1 West Regent
Street, developed by Clearbell and M&G Real Estate,
comprises 143,000 sq ft of Grade A office and retail space over
eleven levels. Previously confirmed occupiers are Weir Group,
Global Radio, the Giraffe restaurant and cafe
chain.