Plaza plan will create 250 construction jobs in Glasgow

 

Author - Rachel Loxton © Evening Times Originally published: 9/2/2012

PLANS to turn a Glasgow car park into a £60million office block have been approved.

Councillors have given commercial property firm Abstract Glasgow permission to build its 170,000sq ft St Vincent Plaza development between Charing Cross and Anderston train stations.

The site is currently used as an overflow parking ground for the Santander building in St Vincent Street.

Work on the building, which will be able to accommodate 1700 staff, is due to begin in the next few weeks.

The construction, reported to be the biggest of its kind in the UK outside London, will have a basement, 10 upper floors and a penthouse, as well as 78 car parking spaces.

The scheme will be completed towards the end of next years.

Mark Glatman, chief executive of Abstract Securities, which owns the property firm, said the project would create 250 contractor jobs.

A discount on the current rents offered in the city has been promised to the businesses that occupy the block.

Mr Glatman said: “It is imperative Glasgow can offer high-quality Grade A office accommodation at an achievable cost.

“St Vincent Plaza is all about offering value at a time when occupiers have to keep a very close eye on the bottom line and cannot justify heavy costs.

“By coming to the market with a top-quality product and quoting rentals from £23 per sq ft we are significantly undercutting the established Glasgow market and offering exceptional value for money, as well as significantly reduced operational costs.”

Gordon Matheson, Glasgow City Council leader, said: “The creation of St Vincent Plaza is another sign that private investors and developers retain a lot of confidence in Glasgow, and it will be a welcome addition to our high-quality office accommodation.

“The confidence that firms aiming to use Grade A business space will find this an attractive location shows private investors’ faith in the city and points to Glasgow’s economic wellbeing.”

St Vincent Plaza has been designed by Glasgow-based architects Keppie Design, with Bowmer and Kirkland appointed as the contractor.

Christopher McPherson, Abstract’s development director, said it was hoped the project would attract “high-profile occupiers to the city which, in turn, means more local employment and growth for Glasgow”.