FUNDING has been secured for a major build-to-rent housing development at Candleriggs Square in Glasgow city centre, on the site of the former fruit and vegetable market.

Candleriggs Development 2, a joint venture between Drum Property Group and Stamford Property Investments, has agreed an £81.5 million deal with Legal & General to deliver the major 346-apartment scheme.

The property groups behind the project said the deal with L&G “marks the next significant step of the much-anticipated regeneration of the 3.6-acre Candleriggs Square site lying at the heart of the Merchant City area”.

Approval was granted for a “planning application in principle’ for the entire site by Glasgow City Council in May 2020, including a detailed application for a new 500-room hotel complex owned and operated by the Student Hotel Group.