UK: Living sector developer and operator Vita Group has acquired a regeneration site in Glasgow from City Property.
Vita Group has exchanged contracts with City Property Glasgow (Investments) LLP to purchase 20 India Street, which it describes as one of Glasgow’s most exciting development opportunities, subject to planning.
Located in the heart of Glasgow, 20 India Street was formerly an office building but has since been demolished and cleared, creating a prime development opportunity.
Mark Oakes, Vita Group chief commercial officer, said: “A fantastic location in the heart of Glasgow, 20 India Street has the potential to be an exciting, thriving new community which adds to the fabric of the city, we look forward to bringing forward plans for this site in the summer.”
Joanne McDowall, asset manager for City Property, added: “We’re delighted to complete this deal with Vita Group and look forward to seeing Vita’s plans for development and the future regeneration of a significant site within Glasgow city centre.”
The acquisition comes two months after Vita Group acquired a major regeneration site in Birmingham.
