The development was given the go-ahead by Glasgow City Council in October 2019, after Swan Group agreed to purchase the site, subject to planning approval.

Upon completion of the project, expected to be in 2021, Swan Group will hand over the new build, affordable homes to PfP Capital’s Mid-Market Rent Fund. PfP Capital is the fund management business of Places for People.

Phil McGinlay, managing director of Swan Group, said: “The project in Royston is our second new development announced for Glasgow this year. This will make a vital contribution to the availability of affordable and social homes for Scotland’s biggest city.

“We are pleased to be working with PfP Capital on the Royston development, which will create a mix of high quality and affordable homes. It’s an exciting time for Swan Group, as we step up our programme of developments across the country, to meet growing demand.”

William Kyle, MMR fund director at PfP Capital, said: “We are delighted to be working with Swan Group on the delivery of high-quality homes for our Mid-Market Rent Fund.

“These homes will be a valuable addition to the supply of affordable homes in Glasgow and will provide customers with the opportunity to rent affordably in close proximity to the city centre. We look forward to working with the team at Swan Group as they continue to grow the business.”

Work is expected to start in 2019, with completion in 2021.