London-based fund secures Scotland’s first investment for £ 25.9million

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Edmond de Rothschild Real Estate Investment Management (REIM) has secured its first investment in Scotland, developing a premier residential site in Glasgow for £ 25.9million.

The company has agreed to term finance a development of 114 apartments for rent in Finnieston, by Drum Property Group, which will act as the development manager for the fund.

The G3 Square site is located on Minerva Street, next to the exhibition center station. A detailed planning request will be produced in the first quarter of next year, with work scheduled for July 2023.

Charlie Miller, Co-Head of Residential UK and Director of Residential Transactions at Edmond de Rothschild REIM, said: “G3 Square is a great opportunity to establish the fund’s first development in Scotland, where we will provide rental housing from high quality at affordable levels in line with the fund’s strategy.

The Edmond de Rothschild Residential Investment Fund UK, which invests in the private rental sector (PRS) on behalf of European institutional investors, was launched in August 2018 and has to date raised equity commitments of around 260 M £.

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