A joint venture between Drum Property Group and Stamford Property Investments has bought the Candleriggs Quarter development site, at Glasgow’s Merchant City.
It is understood the price tag on the site was around £20m.
The joint venture will develop a mixed-use site, which has been derelict for more than a decade. It has existing consent for around 850,000 sq ft of residential, student accommodation, hotel and commercial space.
Graeme Bone, group managing director of Drum Property Group, said: “Securing Candleriggs Quarter provides an exciting opportunity to transform this neglected part of the city centre and complete the