Glasgow: City of Growth

14th Mar 2024

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Glasgow City Region’s position as the largest integrated economic region in Scotland is well established with around a third of Scotland’s output, business base, research power and employment. Home to Scotland’s largest office market, Glasgow itself is recognised as one of the most affordable cities in the UK and beats London, Manchester, Birmingham and Edinburgh on property and labour costs, yet delivers on quality across the board. 

Like many cities, Glasgow has felt the impacts of the pandemic, especially in the city centre. An ambitious new (city centre) strategy will guide the renaissance of the city centre in the coming years and will include a vision and action plan for a reimagined ‘Golden Z’ which identifies priorities for intervention and investment, by the public and private sectors, to further stimulate its economic recovery and support longer term economic, social and environmental resilience.  

Mixed use developments such as Love Loan, Buchanan Galleries, St Enochs and Candleriggs Square will play a significant role in reshaping the city centre offering a vibrant mix of commercial, residential, retail, leisure and high-quality public realm, creating destinations that better reflect how and where citizens want to live, work and play. These new destinations will be complemented by repurposed properties throughout the city centre. 

Glasgow is currently the leading city for BTR in Scotland with the largest pipeline and the greatest number of approved or under construction units. Moda’s Holland Park, Platform’s Central Quay and L&G/Drum Property’s Solasta developments together will create 1,325 high quality apartments in and around the city centre. The first BTR for families by Casa was opened in November 2023 in the east of the city offering high-tech family homes for rent. This is a new type of tenure for Glasgow and one which could help meet the demands of modern family life. 

With a target of doubling the city centre population to 40,000 by 2035, Glasgow is interested to work with investors and developers who can deliver more affordable, accessible, safe and sustainable homes which support good health in thriving neighbourhoods and which match the Glasgow Standard in housing. 

At the same time, growth in student numbers in Glasgow is driving demand for more PBSA. The recent UK Student Accommodation report compiled by Cushman & Wakefield reveals that in the last three years, Glasgow’s student population has risen by 12,220, second only to London in growth terms. However, there is now a significant imbalance between supply and demand. Glasgow City Council supports the creation of new, quality PBSA in locations offering access to the Universities and colleges by active transport and by public transport, access to local amenities and with the potential to contribute to local regeneration. 

Investors can feel confident in the opportunities presented by a city at the forefront of transition, with internationally recognised high-growth sectors and a reputation for building and nurturing partnerships.