Glasgow is gearing up for a new phase of development with five key sites primed and development ready, the Scottish Property Conference heard today.
Speaking at the conference held at Edinburgh’s Roxburghe Hotel, Doug Smith, chairman of the Scottish region at CBRE spoke about the Glasgow market including preparations for the city’s next wave of development.
Smith said the key sites available and ready to go are Bothwell Plaza, Atlantic Square, Central Quay, the Broomielaw and Broadway 2 which will “build on the momentum of the three speculative schemes currently being built at St Vincent Plaza, One West Regent St and 110 Queen Street. Smith said these will be a “stimulant to further activity rather than a drag”.
Glasgow has had a bumper year so far with take-up 61% up in Q1 2014 compared to the same period last year, said Smith. Thus making further development more attractive.
With the 220,000 sq ft Scottish Power building on St Vincent Street due to go on site this summer, a further 1,900 staff will relocate to this part of the city centre when completed in 2016.
Other panellists in this session included Sue Bruce, chief executive of the City of Edinburgh council and Bill Duguid, managing partner of Ryden.
