£75 million redevelopment for Sauchiehall Street
Monday 23 May 2016
A £75 million redevelopment is to create and improve landmark buildings on Glasgow’s Sauchiehall Street, Renfield Street and Bath Street.
This proposal shows a really exciting vision for an important site in Glasgow city centre and will provide the highest quality environments for retailers and business large and small.
The company’s staff will occupy the 6,900 square foot fifth floor which features full height glazing, dramatic external lighting and commanding views across the city centre.
The proposal is for: a 12-storey new build on Bath Street with 130,000 sq ft of high-spec Grade A office space; the remodelling and refurbishment of the building occupied by a Bhs store which will add add new boutique offices above the retail space; and the improvement of a third building on Sauchiehall Street to give a total area of 240,000 sq ft including retail, Grade A and design-style offices.
Sauchiehall Street, historically one of Glasgow’s prime shopping destination, will see a vast visual improvement thanks to a new look for the Bhs building, with an exposed structure and industrial aesthetic. The building’s new offices will feature design-led interiors to complement the new contemporary exterior.
The developer, Formal Investments, has submitted a Proposal of Application Notice to Glasgow City Council ahead of a public consultation in June to be followed by a full planning application.
Last year property investor Formal Investments took a long lease on the £20 million buildings, which are also home to Sports Direct and Mountain Warehouse. Those units, in a separate building on Sauchiehall Street, will continue to provide excellent retail locations.
The new building on Bath Street will create business offices for approximately 1,750 workers. The boutique offices above Bhs are aimed at creative businesses seeking units of 500 sq ft and upwards.
Formal Investments director Nicholas King said: “This proposal shows a really exciting vision for an important site in Glasgow city centre and will provide the highest quality environments for retailers and business large and small.”
The architectural design is by Glasgow practice Stallan-Brand, whose associate Patrick Wilson said: “Formal Investment’s proposed redevelopment presents a unique opportunity to revitalise and transform the quality of the urban environment and public realm in this location, through the creation of new public spaces and improved and more appropriate mixed use activity.”
Shahid Ali, associate director of planning and development at the Glasgow office of property consultants JLL, said: “This proposed development will bring much needed additional office space to Glasgow whilst strengthening its retail presence, and play an important role in the regeneration of Sauchiehall Street.”
The public consultation will be an open drop-in from 2pm to 8pm on Thursday June 9 at the CitizenM Hotel on Renfrew Street.
Further information about leasing opportunities is available from Bruce Hodges at Property Services and Consultants on 01749 838 921 or email: firstname.lastname@example.org