PROPERTY developer Summix Capital has completed the purchase of a major development site in Glasgow city centre.

The brownfield site, which has been acquired from fellow property developer XLB, includes an office building at 2 Central Quay and 4.43 acres of land on which Summix is planning to develop homes, office and commercial space, and student accommodation.

The site is close to the Broomielaw, which runs alongside the north banks of the Clyde, and closely located to the OVO Hydro live music arena. Planning permission for the mixed-use development was secured by XLB in 2018.

READ MORE: Scott Wright: Cracks appear at major retailers as winter looms

The 79,327 square foot building already standing at the site is partially occupied by NHS Education for Scotland, and has space available for prospective occupiers.

Stuart Black of Summix said: “This is a great opportunity to redevelop a prominent site at Central Quay, one of the last major pieces of brownfield land in the city.

“It provides us with the opportunity to progress our proposals for an exciting mixed-use development, delivering homes, employment and investment into Glasgow.

“Central Quay is excellently located, being immediately adjacent to Finnieston, one of Glasgow’s fastest growing neighbourhoods and is prominently positioned at the gateway to the city centre. We look forward to engaging with the community on our proposals for this in due course.”

Will Scarlett from Scarlett Land and Development and Drew Wallace from DLA Piper acted for Summix Capital in the site purchase, while Douglas Wood of Avison Young and Audrey Harrow from Burness Paull acted for XLB as the vendor.

Mr Scarlett said: “We are delighted to have acted as agents for Summix in the purchase of what is one of the most exciting development prospects in Glasgow.

“Large scale prime sites such as this rarely come to the market in the city and this one has lain derelict for a considerable period of time. Its redevelopment by Summix will be a welcome addition to the community.”

A separate parcel of land was previously sold by XLB in 2018 to Platform_, which is currently constructing 498 build-to-rent apartments. The building recently marked its topping out and comprises four blocks, one of which at 20 storeys is one of Glasgow’s tallest buildings.