Agreement with Cruden
LAR acquires Glasgow homes in biggest ever deal
Ann Leslie: looking for other sites
Housing charity LAR has completed its biggest deal after acquiring a development in the east end of Glasgow.
It is buying 64 homes at a site being developed by Cruden Estates near the Sir Chris Hoy Velodrome, its second purchase in Glasgow.
The Fife based organisation, which was set up two years ago to provide mid-market rental properties, has agreed to purchase the units for an undisclosed sum.
LAR chief executive, Ann Leslie, said: “Local housing associations and the [Glasgow] 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.”
LAR and Cruden have also collaborated on a project in East Lothian, with construction nearing completion at a shorefront location in Cockenzie.
Cruden group managing director, Kevin Reid, said: “Hopefully this will be the start of a close working relationship that we can develop onwards.”