New development will provide mid-market rental opportunities

LAR Housing Trust has signed its biggest ever deal for a development of 64 homes in Glasgow.

The housing charity will buy the homes from a site being developed by Cruden Estates Limited on Helenvale Street.

The Fife-based organisation, which was set up two years ago to provide much needed mid market rental properties across Scotland, has agreed to purchase the units for an undisclosed sum.

LAR chief executive, Ann Leslie, said: “We’re delighted to have concluded this deal, which is just our second in Glasgow. Local housing associations and the city council have been very welcoming to us and we will certainly be looking for other sites in Glasgow in due course.

“We have 21 sites already built or under construction across Scotland and this will be our largest to date. These will be excellent homes just a short distance from the city centre and we expect considerable interest in due course from prospective tenants.”

The homes will comprise two-bed flats with construction work scheduled to start soon. The trust’s other Glasgow development at the site of the former Belvidere Hospital.

Kevin Reid, Cruden Group managing director, said: “We are delighted to have been able to introduce this site to LAR, and to now be working collaboratively with them across Scotland. Hopefully this will be the start of a close working relationship that we can develop onwards.”

LAR expects its first tenants to move in by summer 2019 with the last phase ready for occupation by autumn 2019.