Glasgow office build to plug supply shortfall after securing go-ahead
May 15 2017
Corunna House would be demolished and replaced by a 12 storey BREEAM ‘Excellent’ build conceived by Cooper Cromar, delivering 275,000sq/ft of Grade A office space, in addition to a ground floor retail unit and under floor parking.
Lynn Smith, director - development management at M&G Real Estate, said: “There is a clear occupier appetite for high quality office space in Glasgow and a lack of supply in the city’s office market, which makes it a prime location for investment. We are confident that 33 Cadogan Street will attract a strong line-up of tenants, bringing new jobs to the city, and we are looking forward to beginning this exciting project.”
Analysis by commercial lettings agent JLL found office supply fell below trend to just 8.22% over the first quarter, with just two new build Grade A developments with limited space on the market – with no speculative developments presently underway.
Work on the new building isn’t expected to get underway until the second quarter of 2018 however.
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