Europa Capital acquires Glasgow BTR block

Europa Capital has acquired a 342-home build-to-rent scheme in Glasgow from Dandara Group. Granary Quay comprises of a mix of studio, one-bed and two-bed apartments and reached practical completion in May 2024. It is 69% occupied. Overlooking the River Clyde, the building has amenities, including a co-working space, a gym, landscaped gardens, a lounge and a house kitchen. Granary Quay is located within Glasgow Harbour on the north bank of the River Clyde, a river-front extension of Glasgow’s West End. Ed Crockett, head of investment execution at Europa, said: “This acquisition aligns with our focus on investing where we see an opportunity to stabilise and reduce the risk profile of an asset over the medium term and presents us with the prospect of delivering a strong and highly durable income stream over the coming years.  “The potential for continued regulatory change has created a barrier to entry for new BTR developments. As such, we were pleased to be able to secure this investment.” Jim Davies, chief executive of Dandara Living, said: “The acquisition of Granary Quay by Europa is further recognition of the growth potential and confidence in the UK’s BTR sector, and Dandara Living’s position as leading specialist in the delivery and operation of large-scale multifamily schemes.” Europa was advised by Brodies, PwC, CBRE, Hollis and AESG. Dandara was advised by Savills and DWF. See occupational sale comparables in Glasgow >> Photo © Dandara Group