Buchanan Wharf expands with a 75,000sq/ft headquarters office block
December 16 2021
Drum Property Group has begun construction on a 75,000sq/ft office block at Glasgow's Buchanan Wharf to serve as the headquarters of the Student Loans Company.
Up to 1,100 staff will migrate to the building on a 20-year initial lease in 2023, joining the Barclays Northern European campus which is already operational.
Graeme Bone, group managing director of Drum Property Group, said: “Drum is set to realise its exciting development vision, forged just four years ago, of transforming what was a large neglected industrial brownfield site into a thriving commercial and residential community, becoming an integral part of Glasgow’s expanding city centre. Despite facing the extreme economic and logistical challenges experienced during the last two years, this development has now re-energised this waterfront area which has always been a barometer of Glasgow’s commercial success. It once again places the River Clyde at the heart of the city’s economic and cultural regeneration.”
Financed by Legal & General Investment Management (LGIM) Real Assets, who are already delivering a separate 18-storey apartment tower that is scheduled to complete next year, the offices form part of a government decentralisation drive.
Neil Dovey, head of annuity transaction for LGIM Real Assets, added: “The investment demonstrates our continued commitment to the regions, the levelling up agenda and the growing strength of regional hubs across the UK. The government’s commitment to levelling up, including improving infrastructure, means regional towns and cities have the potential to take the lead on building the strongest possible recovery."
Barclays unveiled its riverside campus in October, the lynchpin of a broader masterplan for the district prepared by Stallan-Brand and Halliday Fraser Munro.
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