June 23 2021

A central Glasgow office block has changed hands for an undisclosed sum, paving the way for it to be redeveloped to provide modern Grade A office space.

Built in the 1960s Princes House at the junction of Waterloo Street and West Campbell Street adjacent to the under construction Cadworks the block was last occupied by Barclays and will be demolished and replaced by a £75m build to meet the highest energy performance standards.

Andrew White, development manager and shareholder of Garroch Investments, said: “I have been looking for an office development opportunity in Glasgow for the last couple of years, and I am delighted that, with Savills assistance, Garroch has been able to secure such a prime opportunity in the current development cycle where there is such a shortage of Grade A accommodation.”

Over the interim period the Clutha Trust, a charity dedicated to supporting disadvantaged people in the fields of arts, heritage, culture and science, will occupy the building on a short-term lease.

Garroch Investments has appointed Mosaic Architects for the job who will submit a planning application in due course. Real estate advice has been provided by Savills.

6 Comments

#1 Posted by Roddy_ on 23 Jun 2021 at 18:20 PM

Clearly a highly sustainable proposition.

#2 Posted by Curious George on 24 Jun 2021 at 08:54 AM

Any particular reason why it seems quite acceptable that modern office blocks have a relatively short life span before they are demolished again?
Some of the best buildings in Glasgow are from the Victorian era, still standing strong and looking good, where has it all gone wrong?

#3 Posted by Robin B's Discount on 24 Jun 2021 at 11:15 AM

A whole variety of reasons @2, including: fitness for purpose, adaptability and flexibility within, running costs, quality of build.

I'm pretty sure the developers would look at a refurb initially, as that should be a cheaper option. But if theres not a lot you can do with the existing building then demo and new build is the better option.

It's kind of the equivalent of having a poorly designed and inflexible 1960s house. If you have the cash then you would prefer to demo it and design something much more appropriate to your needs.

#4 Posted by Charlie_ on 24 Jun 2021 at 14:12 PM

Yet another single use office scheme coming up? (Y)our city centre process a complete waste of time and money, apparently.

#5 Posted by I Donald on 26 Jun 2021 at 21:48 PM

The two streets are parallel. They don't actually meet.

#6 Posted by Dougie on 26 Aug 2021 at 09:08 AM

I don't think this is a 1960s building. I'm sure it replaced Magnet House in the late 1990s. About 25 years old at best.

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