Expresso Property has announced that it is creating a portfolio of mixed-use developments in Scotland that will have an end investment value of £100m.
The company is actively seeking further UK sites and is funded to purchase schemes ranging from £1m to £50m.
The York-based company is investing in three major projects at Park Quadrant Residences in Glasgow’s West End; Perth’s new Mill Quarter leisure hub, and a new mixed-use site at Glasgow’s Pacific Quay.
Expresso Property in conjunction with its development partner is developing Park Quadrant Residences, a luxury development in Glasgow’s West End comprising 98 flats.
Building on site begins in autumn 2017 and will complete in 2020, supporting up to 500 construction jobs. Park Quadrant will have a total end investment value of £53m.
The company has concluded missives on the Mill Quarter site, a new leisure hub in the heart of Perth, comprising a multi-screen cinema, bars, restaurants and speciality shops, a 205-space multi-storey car park and 58 flats.
During the construction phase, the scheme will support 200 jobs, and will have an end investment value of £30m, creating around 126 new jobs in Perth on completion. Construction is due to commence in 2018 and is due for completion in summer 2019.
Expresso Property has also been named as the preferred developer by Scottish Enterprise for a new mixed-use development at Pacific Quay Glasgow, comprising offices and shops over looking the river basin. The development will sit adjacent to the Cineworld Cinema, Glasgow Imax at the Glasgow Science Centre, the BBC and STV. With an end investment value of circa £12m, Pacific Quay will accommodate more than 400 new jobs. Work begins on site in next year with completion due in 2019.
Stephen Hampshire of Expresso Property said: “We have various UK schemes under way, three of which are major Scottish projects. We turn each development on its head and look at what design fits the site, rather than a one-size-fits-all approach. By replicating this success across key UK cities, our schemes will regenerate vacant, floundering and under-utilised spaces to benefit residential, and business communities for people to enjoy and be proud of.”
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