First UK development for The Student Hotel Triggers Regeneration of Prominent Merchant City Gap Site
Construction of Candleriggs Square, Drum Property Group’s £300 million regeneration project lying at the heart of Glasgow’s Merchant City, has taken a significant step forward as preparatory site works commence on The Student Hotel’s first complex in the UK.
Glasgow City Council approved plans for the 500-bedroom hotel in May 2020, and construction is expected to start in July this year. The complex will be owned and operated by pioneering hotel brand The Student Hotel (TSH). TSH is a pan-European investor, developer, owner and operator of a pioneering hybrid hospitality model, and states that its mission is to “create boundary-blurring spaces where students, travellers, mobile professionals, creative nomads and enterprising minds can connect and thrive in smart design co-living and co-working spaces.”
The TSH model will offer a mix of functions - including hotel accommodation, co-living and co-working spaces, bar, restaurant, conference rooms and fitness centre - in a creative and inspiring environment that attracts a multitude of different users and guests. TSH currently owns and operates 13 hotels across Europe in leading destinations such as Amsterdam, Berlin, Dresden, Florence, Rotterdam, The Hague, Maastricht and Paris, with a further 12 hotels under development.
The hotel represents the first phase of construction for the 3.6-acre development delivered by Candleriggs Development 2 - a joint venture bringing together Drum Property Group and Stamford Property Investments. Drum and Stamford first launched the ambitious £300m plan to transform Candleriggs Square when the site was bought in March 2019.
Plans include a high-quality mixed-use scheme combining homes, offices, hotel, restaurants and local amenities, together with landscaped open spaces and accessible walkways with a new public square at its heart.
Graeme Bone, Managing Director of Drum Property Group, said: “Candleriggs Square is set to become a much-needed catalyst, kick-starting an exciting future for the city centre as it starts to recover following lockdown.”
Graeme Bone continued: “The TSH development is testament to the commitment and confidence we have placed in both the Candleriggs Square site and Glasgow city centre during these most testing of times. It represents a significant step forward in the long-awaited regeneration of one Glasgow’s most prominent gap sites, driving forward the evolution of Candleriggs Square which has quickly established itself as one of Scotland’s largest and most important commercial and residential development sites.
“This will be a huge boost to the area and to local businesses, who are in desperate need of some good news right now. We can now look forward to bringing back to life a very special area which has always been at the centre of Glasgow’s commercial and social development.”
Charlie McGregor, founder and CEO of The Student Hotel, is looking forward to construction starting on site in the summer: “We are delighted to progress on site with TSH Glasgow, which will be a force for urban regeneration in the Candleriggs quarter. Our pioneering hybrid hospitality model will allow us to configure our new location and adapt it to the rapidly evolving realities of the market.
“TSH’s model has already proved its resilience in the Covid-19 environment, and we now have the operational expertise to keep our buildings safe, with our well designed extensive common areas ideally suited to the demands of different types of visitors.
“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.”
Glasgow City Council granted Planning in Principle consent for the entire site in May 2020, and recently approved plans for a major 346-apartment Build-to-Rent (BTR) scheme by Legal & General, construction of which will begin later this year.