Barratt unloads £70m Glasgow development to Capella

Barratt Developments has offloaded a £70m Glasgow development to a newly-formed company headed by a Wilson Bowden director.

Capella Developments, headed by Jim Fitzsimons, Wilson Bowdens' Scottish director, has bought the £70m Atlantic Square development in Glasgow’s International Financial Services District.

Capella commercial director Tony Greig said there were no timescales for the project, which is to feature two office buildings and sixty-two apartments.

The residential side of the project has received official planning consent.

Capella came into existence on 1 July as part of a management buy-out headed by Fitzsimons.

Mr Greig said those involved felt it was an “opportune time” to start up a new company but that it was not considering the acquisition of any other developments.