Refurbished Grosvenor Building back on Glasgow market

Posted on by John Cronin

A landmark office building in city centre Glasgow is back on the market after a comprehensive refurbishment programme.

Grosvenor BuildingGrosvenor Building (pictured – website) in Gordon Street, Glasgow is now actively being marketed as prime office accommodation following a £3m interior refurbishment.

The works have been managed by King Sturge Building Consultancy and undertaken by Ignis Real Estate.

The 7-storey building offers total Grade A office floor space of just over 50,000 sq ft. The offices are being marketed as total floor suites and floor plates range between 8,130 sq ft and 8,585 sq ft. Larger lets of 25,000 sq ft are available as is whole-building, sole occupancy.

The building, originally constructed in 1859, has had something of an unfortunate history with fire. Soon after completion it was burnt down but rebuilt in 1864-66. The building had another fire in 1901 and was rebuilt in 1907. A final fire occurred in 1967. The building was previously used for warehousing and retail units along with a restaurant on the top 2 floors. The building was converted to commercial office space in 1992. Ignis Asset Management purchased the building for £20.25m in 2006.

The office block has been previously occupied by the oil giant Shell, banking group HBOS and solicitors Anderson Fyfe. Rental prices are around £21.50 / sq ft with the 1st and 2nd floors expected to achieve a slight premium due to their larger windows and higher ceiling heights.

Commenting upon the refurbishment, King Sturge Building Consultancy Partner Ken Frew said: “We set out to raise the bar for Glasgow office refurbishments.  The specification, finish and attention to detail are on par with many new buildings in the city and we believe that occupiers will be impressed by the quality of the fit-out.”

Joint marketing agents are King Sturge and GVA.

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