Property

Hundreds of potential buyers stake an interest in luxury West End development

By Ian Marland at

A luxury residential development has generated more than 600 buyer enquiries.

Estate agents have described interest in Park Quadrant Residences in the city’s Park area as unprecedented.

Park Quadrant Residences

Luxury: Park Quadrant Residences features 98 apartments starting from £299,000

Developers say the 98 apartments will complete the 19th century masterplan for the Quadrant.

The development was given the go-ahead earlier this year despite local opposition.

Gordon Coster is director at Ambassador Developments Park Quadrant Limited.

“We are very proud to be completing this missing piece in Glasgow’s history with the development of Park Quadrant Residences,” he said.

“There has been a very high level of enquiries from potential buyers who are drawn to the scale of the properties and elegance of design that blends contemporary and 19th century architecture.”

Park Quadrant Residences

Work: Construction on the missing link development started this summer

Developers say Park Quadrant Residences has been designed to be sympathetic to the area’s rich heritage.

They say it will complement the aesthetic of the original plans envisioned by architect Charles Wilson in 1851.

The development will feature eleven apartment blocks spanning six floors and will comprise 98 one, two, three and four-bedroom apartments and duplexes, as well as an exquisite penthouse collection.

Director Carole Mackie is Savills head of new homes.

She said Park Quadrant Residences is likely to set a new benchmark for quality and prices achieved in the city, with unprecedented interest coming from mainly home as well as some overseas buyers ahead of the off-plan sales launch this summer.

‘RESURGENCE’

She said: “Key locations in the city are seeing something of a resurgence in buyer interest and this particular enclave is close to the heart of many local people.

“In addition, Glasgow is looking like very good value to investors, compared with other prime locations across the UK.

“There has been a surge in off-plan sales in the new build market, and prices are continuing to rise.

“The market is being driven by restricted supply and boosted by low mortgage rates and gradual economic growth.

“We are delighted with the response to Park Quadrant Residences to date with 635 applicants registering their interest since June.

“With private balconies and terraces, underground parking, lift access and first class specification throughout, there is very little on the prime market, anywhere in the UK, that matches Park Quadrant Residences in terms of location and luxurious design and finish.”

Latest research from Savills shows the prime market in the city locations of Glasgow is outperforming Scotland as a whole.

Whereas prime values in the country have shown little change over the last year, in Glasgow they have increased by 3.5 per cent.

Furthermore, the number of property transactions in the West End and Park district during the year ending May 2017 was 10 per cent higher than the five-year annual average.

Prices at Park Quadrant Residences start from £299,000.

Interested buyers can register now to join the exclusive Owners Club to be the first to receive access to further details and reservations at www.pqresidences.com.