Real estate investor CA Ventures has revealed exciting proposals to deliver the redevelopment of the former Archaos nightclub site, located in Queen Street, Glasgow.
The intention is to deliver a high-quality, purpose-built, managed student accommodation, providing active ground floor uses, which may include retail or commercial uses.
The proposed development could generate around 250 construction jobs, including direct on-site jobs and jobs in the construction supply chain. This could be worth more than £10m to the Glasgow economy during the construction phase.
Serving to address a recognised shortage of student accommodation in the city, the public will have the chance to view proposals and provide feedback at two forthcoming consultation events.
The Archaos nightclub, which closed its doors in 2007 and has lain vacant since. It is in extremely poor condition and does not offer sufficient floor area or a suitable internal layout to provide a viable development opportunity for commercial or residential use.
Previous proposals to open the building as a nightclub and later as an office scheme floundered on the considerable costs required to refurbish a building that had deteriorated considerably over the years.
As one of the few viable options, student accommodation will aim to accommodate circa 230 students with fully serviced apartments and state-of-the-art amenity facilities.
Redevelopment of the site will act as a catalyst for regeneration in this part of the City Centre. The site is within walking distance of Strathclyde University, Caledonian University, and the City of Glasgow College.
As part of the pre-application consultation process, two statutory consultations will be held for the project, the first on Wednesday 2nd November (4pm-8 pm) and the second will be held on Thursday 1st December (2pm-6 pm) at the former Bowery Bar, 35-41 Queen Street, Glasgow, G1 3EF.
Proposals will see a planning application submitted hopefully towards the end of the year. If planning permissions is approved, the intention is for work to start on-site in 2023. The targeted entry date will serve the beginning of the academic year in August 2025.
CA Ventures has a proven track record in delivering sustainable buildings. An array of renewable and energy-saving technologies will be installed to minimise the carbon footprint created both during construction and when occupied.
A representative from CA Ventures said:
“These exciting proposals represent a significant investment in Glasgow and will serve to regenerate a currently derelict site.
“They will serve to provide much-needed student accommodation in a building which has lain empty since 2007 and which, due to its condition, provide limited options for redevelopment.
“During a well-documented shortage of purpose-built student accommodation, potential students have no choice but to explore rental accommodation, which adds to the already significant strain on housing stock.
“We envisage this site as a perfect opportunity to add to the vibrant community of students currently living in central Glasgow, benefitting local shops.
“These proposals are at an early design stage, and over the next few weeks, we look forward to engaging in discussions with the local community about how best to progress this.”
Further information is available at https://21-41queenstreet.com/.
Notes to Editors
About CA Ventures
CA Ventures (CAV) is an innovative global real estate investment management company.
Since being established in the UK in 2018, CAV is a serial investor in the Scottish market and has achieved the following:
- Completed two buildings last year, one in Edinburgh and one in Glasgow. These total 646 purpose-built student accommodation (PBSA) beds.
- Is currently finishing one building in Edinburgh this year, totalling 102 PBSA Beds
- Currently has three planning applications submitted in Edinburgh, totalling circa 621 PBSA Beds (looking to obtain permission and complete in 2025)
- One of these schemes is mixed-use with build-to-rent (BtR) and affordable residential; the affordable residential element is above the policy requirement.
- Has currently exchanged on a piece of land in Glasgow (Anderston Quay) where it is looking to develop a BtR scheme.
- Has currently exchanged on a piece of land in Dundee, where it is developing a PBSA scheme
- Is currently in an exclusivity period on Queen St, Glasgow and another scheme in Edinburgh.
Further information about CA Ventures is available at www.ca-ventures.com.