Key Points
- Glasgow City Council has appointed global property consultancy CBRE, working alongside Mandala Partners, to develop a business case for a new city centre growth fund.
- The fund aims to unlock major development opportunities, attract private investment, and accelerate residential regeneration.
- The proposed investment vehicle supports Glasgow’s ambition to increase its city centre residential population to 40,000 by 2035.
- The assessment will examine how public and private sector capital can be combined to overcome financial viability gaps and infrastructure obstacles.
- The business case is being prepared in accordance with HM Treasury’s Green Book guidance and is expected to be completed by the end of 2026.
- A Glasgow City Council steering group, comprising elected members and senior officers, will oversee the study, with any final decision subject to further Council approval.
Glasgow (Glasgow Express) October 8, 2026 — Glasgow City Council has officially appointed global property consultancy CBRE, collaborating alongside Mandala Partners, to spearhead the formulation of a comprehensive business case for a pioneering city centre growth fund designed to unlock major development opportunities, drive private investment, and accelerate residential regeneration across Scotland’s largest city.
What Is the Purpose of Glasgow City Council’s New City Centre Growth Fund Appointment?
The strategic appointment is designed to tackle the complex financial viability challenges that frequently impede urban development schemes within established city locations. By leveraging the expertise of CBRE and Mandala Partners, the local authority seeks to evaluate innovative funding mechanisms that combine public and private sector capital to stimulate investment and bring forward stalled or difficult development sites.
The initiative directly supports Glasgow’s long-term economic and demographic objectives, most notably the city’s strategic ambition to increase its residential population within the central core to 40,000 by the year 2035. Increasing the number of people living centrally is viewed as a vital catalyst for revitalising retail, leisure, hospitality, and local services, as well as encouraging fresh capital into underutilised urban spaces and existing buildings.
How Will CBRE and Mandala Partners Conduct the Feasibility Study?
Under the terms of the commission, CBRE will lead a thorough assessment examining alternative funding structures capable of bridging viability gaps and making residential and mixed-use schemes financially deliverable. Mandala Partners will support the initiative by providing specialized economic, policy, and strategy consultancy.
The evaluation will draw heavily upon successful investment and regeneration models already deployed by regional and local authorities across other parts of the United Kingdom. These established approaches will be rigorously tested and benchmarked against Glasgow’s unique economic priorities, specific development requirements, and the broader Scottish funding environment.
Furthermore, while the initial scope of the feasibility study remains tightly focused on central Glasgow, officials have indicated that any resulting investment mechanism could possess the scalability to support broader regeneration initiatives across the wider Glasgow region over time.
What Are the Governance and Timeline Frameworks for the Business Case?
The entire assessment process is being meticulously structured in strict accordance with HM Treasury’s Green Book guidance, which establishes the formal framework for evaluating the strategic, economic, and financial justification of public sector investment propositions.
Oversight of the study rests with a dedicated Glasgow City Council steering group composed of senior officers and elected members. Completion of the business case is anticipated by the conclusion of 2026.
Upon completion, the findings will be presented to inform the Council’s final determination regarding whether a growth fund represents a genuinely viable, effective instrument for fostering future urban investment. The Council has stressed that the initiative remains strictly at the exploratory and feasibility stage, with no binding decisions yet made regarding eventual implementation, governance, or financing structures.
Background
The latest appointment arrives as municipal authorities across the United Kingdom increasingly grapple with complex hurdles in urban regeneration, where high construction inflation, rising infrastructure demands, and viability gaps hinder the progression of large-scale projects. Glasgow has historically faced structural shifts in its commercial and retail sectors, prompting local leaders to pivot toward residential-led regeneration to ensure a vibrant, sustainable urban core. The city’s 2035 population target serves as a cornerstone of this strategy, aligning urban planning with modern living trends and sustainable placemaking. Previous municipal regeneration efforts have often relied on traditional grant funding or fragmented private investment; however, the exploration of a dedicated, institutional-grade growth fund signals a shift toward proactive, collaborative capital structures that harness both public backing and private institutional muscle to reshape the urban landscape.
Prediction
Looking ahead, this development carries significant implications for property developers, institutional investors, local businesses, and prospective residents within the Glasgow area. If the feasibility study successfully outlines a robust, viable financial model by the end of 2026 and the Council subsequently votes to establish the fund, the initiative could dramatically lower the financial barriers preventing brownfield and complex urban sites from being developed. For property developers and investors, the creation of a dedicated growth fund would offer greater certainty and risk-mitigation, potentially accelerating the pipeline of residential and mixed-use projects needed to hit the 2035 population target. For local businesses and residents, an influx of central housing development could translate into a denser, more active local economy with sustained footfall, improved public realm infrastructure, and a modernized city centre capable of attracting long-term economic vitality.
