Acting for Stamford Property and Drum Property Group in the acquisition and development of a strategically important city centre site in Glasgow

We acted for Drum Property Group and Stamford Property Investments in the acquisition of the Candleriggs site and are advising on all real estate, construction, planning and litigation matters related to this mixed use development.

The development will see the regeneration of a significant brownfield site in the heart of Glasgow city centre which has lain empty for over a decade.

Key highlights

• Overcoming complex and historic title issues to procure a marketable title for redevelopment. 
• Negotiating and agreeing the forward funding agreement with hybrid hotel brand, The Student Hotel, for the development of a new 500 bed hotel together with co-working, conference and food and beverage uses at ground and first floor.
• Advising on all infrastructure and public realm issues for the development, to create a new network of streets and spaces to return permeability to the site.
• Structuring of a series of inter-related contracts to manage the multiple development phases of the project.

Brodies consistently delivers service of the highest standard. They are more proactive and deal savvy than any other firm I have encountered. Graeme Bone, Group Managing Director, Drum Property Group

Outcome

The development is ongoing, and we continue to support Drum with strategic advice and detailed project management across all legal matters for the development. The development will have a transformative effect on the Merchant City in Glasgow. When complete the site will deliver 850,000 sq ft of residential, student, hotel and commercial space in this prime city centre location.