Glasgow City Council has granted planning permission to BAM Properties and Taylor Clark Properties to develop Atlantic Square in Glasgow’s Broomielaw, to create one of the City’s largest Grade-A office developments.
The move will help address concerns that the City may be losing its competitive edge due to a lack of Grade-A office buildings.
The new JV development will sit in the heart of the International Financial Services District (IFSD) and comprise three separate buildings including the retained façade of an A-listed warehouse building. Building 1 will span ten storeys and provide 180,000 sq ft (27,872 sq m) of office accommodation; Building 2 will comprise 95,000 sq ft (8,825 sq m) across six floors and Building 3 will have 15,000 sq ft (1,394 sq m) of retail and residential accommodation.
The development is expected to have an end value of more than £100 million and support up to 2,750 jobs. Designed by architects, Cooper Cromar and BAM Design, the building will link Argyle Street to the IFSD for the first time.
Mark Broderick, Development Director Scotland, BAM Properties, said, “There is no doubt that there is an appetite in the city for Grade A office development and despite significant investment recently, demand is still greater than supply so we’re confident Atlantic Square will be an attractive offering for potential occupiers. The development will extend and connect the IFSD area between Argyle Street, which will feature a gateway entrance arising from Building 3, to the river front on the Broomielaw and provide a new pedestrian link between York Street and James Watt Street.”
Occupants of Atlantic Square will be able to use the City’s new Fastlink rapid transport system which started operating last month, in addition to the other excellent transport links. Letting agents for the development are Cushman and Wakefield.