GLASGOW’S first major city centre build-to-rent housing development has been completed following a multi-million-pound redevelopment.

Young professionals have flocked to the Merchant City scheme in recent weeks which is well-established in England and Europe and has already proved hugely popular in Glasgow.

The entire 36-apartment complex has now been let after just six weeks of marketing.

The development has a value of £10 million.

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Hidden in a discreet courtyard in the G1 postcode, Candleriggs Court has attracted mainly 24 to 34-year-olds who favour Merchant City life for its bars, restaurants and shops. Around 60 per cent of those in the age bracket account for the development's letting deals.

Work completed on the urban community last week. 

Candleriggs Court is a mix of one, two, and three-bedroom apartments, and all properties come with a designer kitchen and bathroom. 

The development also boasts bike spaces, private underground residents’ parking and a one-of-a-kind communal garden.

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The first tenants moved in on May 17 and the entire building is expected to be fully occupied by the end of this month.

Marc Taylor, director at Tay Letting, said: “Candleriggs Court is a unique development in Glasgow. It offers affordable accommodation in the heart of the Merchant City while delivering a secluded community just minutes’ walk from the best bars and restaurants. 

“This really resonated with potential tenants, and unprecedented demand allowed us to fully-let the development in a matter of weeks.

“Build-to-rent developments will play an increasingly important role in Glasgow over the coming years. Tay Letting’s experience in successfully marketing Glasgow’s first major build-to-rent scheme leaves the firm ideally placed to provide expertise and advice for the up and coming sector.”

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The duo behind the development - Kelvin Properties, one of Glasgow’s largest private investment companies, and Tay Letting - have now set their sights on providing more build-to-rent units to meet demand.

Plans are now progressing to launch another city centre site next year.