DavidPeck, managing director for Buccleuch Property, believes that the market is gathering momentum across a range of sectors.
“We’ve just sold the Evolution site on Glasgow’s Oswald Street to German hotelier Motel One for the construction of a new £18m hotel which follows the commencement of 2 new speculative units totalling 25,000 sq ft on the Aberdeen Energy Park and recent completion of the £32m redevelopment of York’s former railway station to provide a new 115,000 HQ for the City Council and a 100 bed Hampton by Hilton Hotel.”
Through Queensberry, a joint venture with Cruden Homes, Buccleuch has also been active with two new residential developments in Edinburgh; following the recent purchase of Edinburgh Academy’s former boarding houses on a 1.25 acre plot in Trinity, Queensberry will transform the three large B listed Arts and Crafts villas on the site into luxury apartments with an estimated end-value of £9m.
Queensberry has also just entered into a partnership with London based Telereal Trillium to build 81 new homes and apartments on a 4.9 acre site in the up-market Grange area of Edinburgh with an end value in excess of £50m.
As well as Queensberry, Buccleuch Property has other strategic joint ventures with Native Land, Longrose Buccleuch and Audley Retirement which cover the UK residential, leisure and retirement sectors.