Plans in for £75m Sauchiehall Street development
Sauchiehall Street
Tuesday 30 August 2016
Following positive pre-application discussions, plans have formally been submitted for a £75 million redevelopment 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 businesses large and small.
The proposal submitted to Glasgow City Council is for: a new build on Bath Street with 130,000 sq ft of high-spec Grade A office space; the remodelling and refurbishment of the building previously 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 and Renfield 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.
Last year property investor Formal Investments acquired the buildings, which are also home to 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 80,000 sq ft of 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 businesses 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.”
Further information about office leasing opportunities is available from Mike Buchan at JLL (0141 248 6040, [email protected]) and for the retail space from David Simmonds at BNP Paribas (0141 285 0560, [email protected]).