Mactaggart & Mickel invests £4.25m in Glasgow’s Love Loan development
Mactaggart & Mickel Group has completed a £4.25 million acquisition of a rental property scheme at Love Loan, a modern neighbourhood development in Glasgow’s city centre.
Situated just off George Square, the development includes 12 one to four-bedroom furnished apartments within the refurbished B-listed building. These residences will be offered for rent, with lettings managed by DJ Alexander.
Formerly housing the HM Revenue & Customs tax office and the Register’s Office on Martha Street, the vacant buildings have been redeveloped as part of the Love Loan neighbourhood.
As well as restoring the buildings, the Chris Stewart Group have created a new lane running parallel to George Street. In addition to housing, restaurants, bars and shops, Love Loan includes a 245-bed Marriott hotel, 168 MYLocanda serviced apartments, Flight Club and Soho House private members club.
The development’s name is derived from the history of the area, as the original Love Loan in the 1800s, a narrow lane that ran diagonally from John Street to the top of north Frederick Street, was a hub for diverse trades such as chairmaking, coal dealing, and was even the site of the Singer sewing machine company’s first manufacturing facility outside the USA.
Speaking of the new development, Andrew Mickel, Mactaggart & Mickel Group director, said: “We are excited to see this ambitious and transformative new development come to fruition at Love Loan.
“This prestigious new neighbourhood will create a buzz and energy, revitalising this area of the city centre.
“The restoration of many original design features and the reimagining of the spaces within 280 George Street by Hoskins Architects has resulted in 12 exceptional apartments bringing a new level of luxury modern living to Glasgow.”