City Property Glasgow has appointed CBRE to find a buyer for a 1.3-acre plot in Glasgow city centre.
The site, at 20 India Street, was previously home to Nye Bevan House, an office block used by Strathclyde Regional Council and later Glasgow City Council. It was demolished in 2015, with the site cleared to make way for new development.
Initial feasibility studies have been undertaken by architectural firm Hawkins\Brown, highlighting a range of redevelopment opportunities for the site across the residential, student and office sectors.
The site is close to Charing Cross railway station and other major developments including Scottish Power’s 220,000 sq ft headquarters, Starwood Capital’s 172,000 sq ft St Vincent Plaza development and Moda Living’s build-to-rent development on the former Strathclyde Police headquarters.
Andy Cunningham, head of advisory and transaction services at CBRE Scotland, said: “20 India Street offers a rare chance to secure the largest development site in one of Glasgow’s best-connected locations. It is a major opportunity for a developer to create a new sense of place in an area with so much potential. We anticipate a huge level of demand, likely from residential, student accommodation and office developers, now the site is available.”
Allan McDonald, asset maximisation manager at City Property Glasgow, added: “This area of the city has seen major investment over the past few years, and it is anticipated that this site will attract substantial interest from developers. We look forward to playing a part in a further significant development in this area.”
Offers are invited for a long leasehold or heritable title in the site.
To send feedback, e-mail samantha.mcclary@eg.co.uk or tweet @samanthamcclary or @EGPropertyNews
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