The development group Abstract Securities Ltd is behind the newly green-lit project and will now develop what is set to be one of very few new office space additions to the Glaswegian skyline over the next few years.
Completion of the scheme, which lies right in the heart of Glasgow, Scotland’s most populous city and home to the regional offices of dozens of high-profile international companies, is expected to result in a total of some 170,000 sqft of Grade A offices.
The completed office tower will stand 12 storeys high and be known as St Vincent Plaza for the perhaps predictable reason that the site is located on a street of the same name. The locally-based architect firm Keppie Design drew up plans for what looks set to be one of the more expensive office building projects in the city during the first half of the decade.
“Glasgow City Council has recognised that in order to attract yet more big-name corporates to the city, it is imperative that Glasgow can offer high-quality ‘Grade A’ office accommodation at an achievable cost,” said Mark Glatman from Abstract Securities.
Approval for the scheme means that construction work can begin immediately. Current estimates for the completion of the development effort are set for sometime in 2013.
In other Scottish office space news, the international advisory firm Mercer recently revealed its plan to switch to larger offices in Edinburgh and the currently under construction Quartermile development. The move reflects the company’s commitment to employing staff in the Scottish capital.