Work has begun on The Student Hotel’s first complex in the UK. The development, is part of a £300 million regeneration project, Candleriggs Square, being undertaken by Drum Property Group and Stamford Property Investments on a gap site in Glasgow’s Merchant City area.
Preparatory site works have begun for the 500-bedroom hotel project for which Glasgow’s city council initially approved plans in May 2020. Construction on the 3.6-acre is expected to start in July.
The complex will be owned and operated by The Student Hotel, the pan-European investor, developer, and operator. TSH’s ‘hybrid’ hospitality model mixes hotel accommodation, co-living and co-working spaces, bar and restaurant facilities, conference rooms and fitness centres.
The group owns and operates 13 hotels across Europe in cities such as Amsterdam, Berlin, Dresden, Florence, Rotterdam, The Hague, Maastricht and Paris. It has 12 projects under development.
The hotel is the first phase of Candleriggs Square which will be developed by Candleriggs Development 2 – a joint venture between Drum Property Group and Stamford Property Investments. The entire project will include a mix of homes, offices, hotel, restaurants and local amenities, landscaped spaces, walkways and a new public square.
TSH looking for more post-Covid UK opportunities
“The start on site at TSH Glasgow continues our pan-European expansion into the UK where we are looking at further opportunities arising in a post-Covid-19 marketplace,” The Student Hotel’s founder and CEO Charlie McGregor said.
Glasgow City Council granted outline planning for the entire Candleriggs Square site in May 2020, and recently approved plans for a major 346-apartment build-to-rent scheme by Legal & General, construction of which will begin later this year.
Candleriggs Square, bound by Wilson Street, Hutcheson Street, Candleriggs and Trongate, was originally home to Glasgow’s fruit and vegetable market and subsequently a department store. It has been unoccupied since 1999 although there was an attempt to establish Scotland’s first Selfridges there in 2007.
Drum and Stamford’s joint venture inherited an existing planning consent, approved in 2016, for around 850,000 sq ft of residential, student, hotel and commercial space.