Drum Completes 324 Build to Rent Apartments for Legal & General
Drum Property Group has completed the construction of 324 Build to Rent (BTR) apartments for Legal & General Investment Management (LGIM) at Buchanan Wharf on Glasgow’s Clydeside.
Named ‘Solasta Riverside’, the 280,000 sq. ft. complex has been purpose designed to meet the increasing demand for high-quality rental accommodation across Scotland.
Made up of two 18-storey towers, Solasta Riverside houses a dedicated dining space, gym, residents’ lounge and games room. It also takes full advantage of its spectacular location overlooking the River Clyde by incorporating a 4,250 sq. ft. communal roof terrace.
Drum’s Buchanan Wharf is an award-winning £500m mixed use development within walking distance of Glasgow Central Station and the International Financial Services District - linked by the adjacent Tradeston Bridge.
Welcoming the completion of Solasta Riverside, Graeme Bone, Group Managing Director of Drum Property Group, said: “This is another important milestone for Buchanan Wharf and the transformation of what was a large, neglected industrial brownfield site into a thriving commercial and residential community.
“The new apartments and facilities will bring an exciting dynamic to the area, making Buchanan Wharf a stimulating and attractive environment in which to live, work, and visit.”
Mike Powell, Head of Transactions, BTR, at LGIM Real Assets, added: “With a commitment to transform UK towns and cities, creating jobs and driving economic growth, the delivery of 324 high quality, well-located rental accommodation is an important part of Legal & General’s regeneration activity in Glasgow city centre.
“The city had seen particularly low levels of residential development over the last 10 years and an increasing demand for high quality, well-located rental accommodation in the city centre. This acute supply and demand imbalance means the completion of our BTR development at Buchanan Wharf will bring a long term sustainable rental scheme to Glasgow, meeting the demands of this vibrant and fast-growing city.”
The regeneration of Buchanan Wharf has been one of Scotland’s biggest ever building projects. Solasta Riverside sits next to Barclays state-of-the-art Northern Europe campus HQ, which opened in 2021. When complete in 2023, the Clydeside site will encompass prime Grade A office space, residential accommodation, local amenities and landscaped public spaces.
Drum is currently constructing the final building at Buchanan Wharf - a 75,000 sq. ft. office HQ for The Student Loans Company, also forward funded by LGIM.