Beaufort Capital

Beaufort Capital completes two Scottish development deals

Beaufort Capital has announced the completion of two development transactions in Scotland at a total investment value in excess of £6.5m.

Beaufort provided Artisan Real Estate Investors a mezzanine and equity investment for a residential development in Edinburgh and an equity investment for a hotel and apart-hotel development in Glasgow.

The developments have an anticipated combined GDV of around £120m.

The Edinburgh development involves the demolition of a former retail site and the construction of four buildings featuring 180 residential units and a landscaped courtyard.

The site is located next to the Water of Leith river and includes 45 affordable housing units, which are in the process of being pre-sold to a Scottish housing association.

Design for propsosed hotel and apart-hotel developments

Artisan has also acquired two adjacent vacant buildings in Glasgow: Custom House and Spectrum House.

The developer has announced that it will soon be submitting plans to redevelop the buildings into a 350-room hotel and 150-room apart-hotel.

The buildings sit close to the bank of the river Clyde and will also provide conference space.

Joe Flaherty of Beaufort Capital said: "We are very pleased to announce the completion of both deals.

“Artisan is a top-quality developer, and we were exceptionally impressed with the team, and what they have achieved at the first phase of New Waverley.

“We have every confidence in their ability to deliver the same excellent results in Edinburgh and Glasgow.

“This is an important first step in what we hope will be a long and fruitful partnership between our two organisations."

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