FEDERATED Hermes, a specialist in active investment management, has submitted plans to Glasgow City Council to reclad Skypark 1, the nine-storey building at the centre of its Skypark campus in Finnieston.
Federated Hermes manages Skypark on behalf of an institutional investor client. Subject to planning consent, work will start in early 2027.
The investment of over £8 million is tipped to provide one of Glasgow’s most recognisable office buildings with a new look. The building’s existing exterior panels, installed in the late 1990s, will be replaced with a new insulated cladding system. The cladding work will be carried out on non-tenanted areas such as behind escape stairs, toilets, and lift cores. This aims to cut energy loss, improve energy efficiency, and remedy staining and discolouration. The redesign will also give the building a ‘sharper, more contemporary look’, with colour and tone varying across its height.
The works have been designed around Skypark 1’s high occupancy, keeping existing tenants trading throughout.
Owners of Skypark have invested in excess of £17 million since 2018 to upgrade and refurbish office accommodation and implement sustainability and amenity initiatives. These include the decarbonisation and refurbishment of office suites, construction of Glasgow’s largest end of journey cycle hub, and a new reception and café.
Christina Holland, asset management director, Federated Hermes Real Estate, said, “Skypark has grown into one of Glasgow’s most sought-after business addresses, and this investment will ensure that Skypark 1 keeps pace with what occupiers expect from their workspace. We’ve seen through projects like NOMA in Manchester and Paradise in Birmingham how the right long-term investment in a building and its surroundings can shape an area for the better. Glasgow city centre continues to evolve at pace, and we want to ensure that Skypark contributes to this positive change.”
Stuart Patrick, chief executive of Glasgow Chamber of Commerce, added, “Skypark is an important business destination in a strategic location, and this continued investment in the campus is a strong vote of confidence in Glasgow. It builds on a long-term commitment to the city and shows the importance of investing in established assets as Glasgow grows and changes. With significant plans taking shape around the Clyde, sustained private investment like this helps maintain momentum and strengthen Glasgow’s appeal to businesses and investors.”
