Sale of Park Quadrant complete
City Property (Glasgow) LLP, acting on behalf of Glasgow City Council, is pleased to announce the completion of the sale of Park Quadrant, one of the most prestigious development sites in Glasgow.
The purchaser, Expresso Property (Park Quadrant) Ltd, a joint venture between Expresso Property and Ambassador Group, paid a minimum figure of £5.7m to the Council for the site. Consent has been granted by the Planning Authority for the development of 98 high quality residential apartments with work expected to begin on site in the near future.
Pauline Barclay, Managing Director of City Property, said: “The sale of this site forms the final missing piece of Park Quadrant in what was the creation of 19th century Scottish architect, Charles Wilson and one of the most iconic of Glasgow’s Victorian Cityscapes. Throughout the process we have been stringent in our approach to ensure any new development is in keeping with the special character of the area and in meeting these requirements I am delighted to confirm Expresso Property (Park Quadrant) Ltd are the successful purchaser in a deal that has generated a minimum £5.7m capital receipt for the Council.