Glasgow council has approved a £150m masterplan for more redevelopment at Pacific Quay on the south bank of the River Clyde.
Plans for the 800,000 sq ft site include three to eight storey office buildings totalling 500,000 sq ft, 300 homes and a 150-bed hotel.
The masterplan combines mixed-use development with regeneration of the 10-acre Festival Park, part of the former Glasgow Garden Festival site.
Pacific Quay Developments (PQD), a joint venture between Manchester-based CTP, Miller Developments and Grosvenor, own 25-acres of the Pacific Quay site, of which 15-acres will be used for this development phase.
Alan Somerville, PQD director said: “The former Garden Festival site has had many incarnations and the masterplan approval now signifies a new coming of age for the area, which I believe will help open access to the riverfront and make Govan an integral part of the city.”
“We anticipate that the planning application will move forward this summer, with construction of offices and the hotel scheduled to commence at the end of this year.
“The opening of the new £20m Finnieston Bridge this summer will also be a significant milestone in the regeneration of the Pacific Quay area”.
PQD is the majority landowner of the 60-acre Pacific Quay site.
Other landowners include Scottish Enterprise Glasgow, Glasgow Science Centre BBC and Glasgow City Council who own 10 acres including Festival Park.
The BBC Scotland are currently developing 350,000 sq ft headquarters due for completion in summer 2007, and SMG HQ’s are scheduled for completion in 2006.
The 60,000 sq ft 2 Pacific Quay has detailed planning consent and will be a speculative office building forming the next phase of development.
The masterplan has been designed by Glasgow-based Parr Architects.
Jones Lang LaSalle and CB Richard Ellis represent PQDL.
References: EGi News 19/01/06
