Chris Stewart Group agrees deal to bring first MY Locanda apartments to Scotland
A new style of accommodation is coming to Glasgow’s city centre as Chris Stewart Group (CSG), one of Scotland’s leading real estate developers signs a joint venture agreement with Cheval Collection.
Under the agreement, CSG will build 168 studio and one-bedroom apartments for both short term guests and long-term residents within its Love Loan development off George Square. Cheval Collection, an experienced serviced apartment operator, will manage the design-led accommodation under its new brand MY Locanda.
With the start of construction marked by a site visit by CSG’s CEO, Chris Stewart and Cheval Collection’s managing director Mohammed Almarzooqi this week, the apartment building is due to open in early 2024 and will be the first MY Locanda worldwide, as Cheval Collection rolls out a strategy for the brand that targets major international cities.
MY Locanda will provide an affordable price point for guests to the city, business travellers and longer-term residents who want an urban base that feels part of the local community. While having a focus on accommodation, MY Locanda will include a strong Food & Beverage offering, vibrant community spaces, including communal kitchens, co-working areas, and meeting rooms. A unique feature will be the ‘Wall of Curiosity’ which allows residents the chance to borrow and loan items sourced from the community for their stay.
As part of the Love Loan development, the building will also be surrounded by a new collection of retailers, food and leisure operators and artisanal producers.
Chris Stewart Group has a well-established relationship with Cheval Collection, having brought the specialist operator in to manage CSG’s properties in Edinburgh. Cheval is one of a number of international brands that CSG has brought to Scotland.
Chris Stewart is the CEO of Chris Stewart Group. He said:
“MY Locanda will be a superb addition to our Love Loan development in Glasgow. Its international outlook and design-led approach will attract both short and long-term residents and matches our vision for the development which will include a range of high quality, cosmopolitan lifestyle, retail and food and drink brands. Having worked successfully with Cheval in Edinburgh, I’m delighted to continue the relationship with this new venture in Glasgow.”
Mohammed Almarzooqi, managing director for Cheval Collection, said:
“Our aim is to create a vibrant lifestyle destination that draws people to the city centre. MY Locanda will appeal to those with an independent, youthful mindset travelling for leisure or business, solo, as a family or in groups of friends keen to find a stylish city base where they can engage with the local scene. Longer stay residents will include students, those relocating for business or those wanting a regular address in the city.
“Working with CSG we have found a partner that shares our values for great design and for taking an innovative approach to city centre living.”
The new building is designed by Hoskins Architects with 3DReid working alongside CSG on interior design.