CBRE has announced the launch to market of 20 India Street in Glasgow, described as representing the largest available development site in the city centre.
Extending to 1.28 acres, the site was previously home to an office building called Nye Bevan House, used by Strathclyde Regional Council and then by Glasgow City Council. It was demolished in 2015 with the site cleared to make way for new development.
It is now available for sale or long term let. CBRE is marketing the site on behalf of City Property Glasgow (Investments) LLP.
CBRE revealed initial feasibility studies undertaken by architects Hawkins Brown highlighted a range of ‘transformational’ redevelopment opportunities for the site.
Andy Cunningham, head of advisory & transaction services, CBRE Scotland, said, “20 India Street offers a rare chance to secure the largest development site in one of Glasgow’s best-connected locations. It is a major opportunity for a developer to create a new sense of place in an area with so much potential. We anticipate a huge level of demand, likely from residential, student accommodation and office developers, now the site is available.”
Allan McDonald, asset maximisation manager at City Property Glasgow (Investments) LLP, added, “We are delighted to be working with CBRE on bringing 20 India Street to the market. This area of the city has seen major investment over the last few years, and it is anticipated that this site will attract substantial interest from developers. We look forward to playing a part in a further significant development in this area.”
