Office development for Clyde Gateway, Glasgow
Funding and construction contracts have been agreed for a multi-million pound office development at a large regeneration scheme in Glasgow.
The Clyde Gateway Urban Regeneration Company (URC) has announced that funding amounting to £10m has been secured from the investment arm of Aviva, enabling the construction of a new office complex to start later this month. The new offices (pictured), amounting to approximately 64,500 sq ft of floor space are to built on a brownfield site in Bridgeton in the east end of Glasgow. The construction contract has been awarded to Dawn Group Ltd a Scottish property development company.
Glasgow City Council has already agreed to a 20-year lease for the building and will use the building, to be known as Eastgate, as offices for Glasgow Community Safety Services (GCSS). GCSS will relocate about 500 staff to the new building who are currently located in various offices across the city. GCSS estimates an annual rental saving of £65,000.
The Clyde Gateway is a long term urban regeneration plan aiming to create a target of 21,000 jobs over the next two decades. The area covers a large part of the east end of Glasgow, including Bridgeton, Dalmarnock and Parkhead and URC plan to redevelop the area with a mix of homes, offices and commercial property of various sizes.
A recent scheme includes the redevelopment of former housing offices into 12 serviced offices. The Red Tree Business Suites complex is expected to be ready for occupation in May, 2011 and will offer 12 office suites starting in size from 200 sq ft that are being targeted at start-up businesses.
The Eastgate scheme will offer Grade A office space within a 4-storey building. A BREEAM rating of ‘Excellent’ is expected to be achieved. The target completion date is February 2012 with the new tenants using the building from April 2012.
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