£15m facility to fund the conversion of an office into a build-to-rent scheme in Glasgow

Overview

A £14.5m loan to finance the development of a 92-bed build-to-rent scheme in Glasgow. The development saw the existing office building converted into 17 studios, 58 1-bedroom and 17 2-bedroom units. The ground floor will provide co-working and breakout areas for the residents, and the 96-space basement car parking will be retained for use by the occupiers. The building aims to achieve the highest sustainability credentials possible, within the limits of the existing structure, and by refurbishing the existing building, the developer has reduced the embodied carbon of the project.

Figures are subject to rounding.