Scottish Cities Alliance

Candleriggs Square, bound by Wilson Street, Hutcheson Street, Candleriggs and Trongate, is regarded as the last and most significant piece of the Merchant City regeneration jigsaw.

Project Overview

Originally home to Glasgow’s flourishing fruit and vegetable market, the site lay neglected and unused for 20 years, becoming an unattractive gap site in an otherwise vibrant and thriving neighbourhood.

Drum and Stamford’s joint venture inherited an existing planning consent, approved in 2016, for around 850,000 sq. ft. of residential, student, hotel and commercial space. Drum and Stamford’s revised and consented application in 2020 made significant improvements to the quality of design and site permeability which reflect the site’s unique setting at the heart of the Merchant City.

Proposals include a mix of homes, hotel and commercial space clustered around landscaped areas and a central public square. Restaurants, cafes, bars and retailers will be included at ground-floor levels, augmented by a variety of pedestrian-friendly street-level courtyards.

Construction of a 500-bedroom hybrid-hospitality complex for The Social Hub, and a 346-apartment build-to-rent residential building for Legal & General will complete in Autumn 2023 and Summer 2024 respectively.

The development will return Candleriggs Square to a bustling market-place full of life, vitality and interest and intrinsically linked to the rest of the city centre, bringing with it a significant and timely boost for both the local and national economy.

The development will return Candleriggs Square to what it always was – a bustling market-place full of life, vitality and interest and intrinsically linked to the rest of the city centre, bringing with it a significant and timely boost for both the local and national economy.

Graeme Bone Group Managing Director of Drum Property Group

Investment Opportunities

The site has planning consent for a mix of uses including hotels, residential, business space and offices, pubs, restaurants, leisure and gym with associated car parking, access, landscaping, and public realm. Planning consent reference: 19/03665/PPP The first two plots are now under construction. The Social Hub, a 500-bedroom hybrid-hospitality complex, and a 346-bedroom build-to-rent residential building for Legal & General will complete in 2023 and 2024 respectively. Drum is in discussions in relation to the balance of the development comprising Grade A office and residential accommodation to complete the scheme. Various options are available.

Visit Invest Glasgow and Candlerigg’s Square for more information!

CONTACT

David Kilgour, Development Director at Drum Property Group
Email: davidk@drumpropertygroup.com
Tel: +44 (0)141 428 3409

QUICK FACTS

Project Value: £350 million
Investment Type: Various options available
Location: Glasgow City Centre
Landowner: Candleriggs Development 2 Ltd (Joint Venture between Drum Property Group and Stamford Property Investments)
Timescale: 2020-2025
Status: First plots under construction, remainder of site being actively marketed