A landmark £10 million development is to be built in Glasgow's Merchant City in a bid to repopulate the city centre.

Candleriggs Court will be the first significant city centre Build-to-Rent housing development.

The 36 apartments have been designed to meet demand for quality rental properties.

One of Glasgow’s largest private investment companies, Kelvin Properties, is driving the major redevelopment which is currently nearing completion with 50 tradesmen on site daily to get the project over the finishing line.

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The city’s newest urban community has now opened its show home’s doors ahead of the refurbishment programme completing towards of the end May.

Located within a discreet courtyard in Glasgow’s G1 postcode, Candleriggs Court offers a secluded community environment while providing unrivalled connectivity to Merchant City’s desirable bars, restaurants and shopping.

Candleriggs Court features a mix of one, two, and three-bedroom apartments will come with German-engineered kitchens from Hacker and Porcelanosa tiling in the bathrooms.

The development will also benefit from bike spaces, private underground residents’ parking and a unique communal garden, offering breathing space in the heart of the city.

Marc Taylor, director, Tay Letting, said: “Candleriggs Court will provide high-quality living space for a range of occupiers - from professionals to young professionals - in a prime city centre location. It will deliver amenities not available in traditional rental properties just minutes’ walk from the finest retail and leisure facilities Glasgow’s vibrant city centre has to offer.

“BTR developments will play an increasing role in solving Glasgow’s property puzzle – and our appointment to bring these 36 high-spec apartments to market is hugely exciting for Tay Letting.

"The development offers flexibility, as the mix of apartment layouts caters to a range of budgets and has already generated significant tenant interest.”

BTR refers to the emerging market in private rented residential stock, which is designed solely for renting rather than sale. The concept, which has proven popular in England and Europe, offers housing in prime, well-connected locations that would otherwise be unaffordable to consumers.

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Stephen McKechnie, managing director, Kelvin Properties, adds: Stephen McKechnie, managing director, Kelvin Properties, adds: “Glasgow is a dynamic and thriving city that needs more residential development to help it to flourish.

"Kelvin Properties is excited to be delivering one of Merchant City’s first BTR development and contributing to the wider regeneration of the city core.

“Kelvin Properties has a proven track-record of delivering quality developments, such as Sandringham Court in Newton Mearns and The Atrium in Broomhill, and we’re are on track to deliver a sought-after development that will enhance the urban fabric of Glasgow.”

Over the last 10 years, Glasgow has seen particularly low levels of residential development compared to other major cities and house prices in Scotland are forecasted to rise 17 per cent by 2022, according to research from Savills.

BTR will be crucial in sustaining the city’s accommodation needs going forward, ensuring Glasgow continues to attract and retain the best talent.

Stuart Patrick, chief executive of Glasgow Chamber of Commerce said: “It’s encouraging to see a continued pipeline of investment into Glasgow’s Build to Rent property market, a significant focus for the city’s overall strategic development.

“The creation of quality housing in prime locations supports round-the-clock city-centre footfall while helping to retain a competitive edge when attracting skilled workers.”