Scotland: from €146,000 Irish-owned UK development company Dandara is hoping to tempt Irish investors to Scotland with a large apartment scheme in Glasgow.

Dandara, a company founded by two Irishmen in the late 1980s, has developed a billion pounds worth of property on waterfront sites around Britain.

Construction has just started on a regeneration scheme at Glasgow Harbour called gh2o. The scheme comprises 770 studio, one-bedroom and two-bedroom apartments.

The development is aimed at investors and first-time buyers and prices range from €146,000 for 29sq m (312sq ft) studio apartment to €329,000 for 64sq m (685sq ft) two-bedroom apartments.

Some 110 out of the first 191 apartments released to date are still available.

Buyers can expect a capital appreciation of 5 per cent per annum over the next five years, according to the developer.

Dandara has also just revealed plans for a €183 million office development along the River Clyde. There are also plans to locate a mid-ranged hotel along the waterfront.

The company bought the site from Clydeport and Glasgow City Council 18 months ago and hope to begin construction in the first half of 2007.