Development of prime address
Grade A plan for Queen St eases Glasgow plight
A prominent corner site in central Glasgow is to be developed into 54,000 sq ft of badly-needed Grade A offices.
Esson Properties is behind the plan for 100 Queen Street which comes at a time when there is a limited pipeline of new-build developments.
The firm is now on site and has appointed Knight Frank and Ryden as joint agents on the property.
The scheme, immediately opposite the almost fully-occupied 110 Queen Street, will see its two penthouse floors newly constructed, with the £7.6 million contract awarded to ISG.
Comprehensive Design Architects (CDA) is providing architectural and local project management input, while the developer is also working with FG Burnett to enhance the retail offering on the ground floor.
Hunter Esson, chief executive of Esson Properties, said: “Whilst we strive to provide a top quality product worthy of a discerning occupational market, we believe that the timing of this redevelopment is shaping up to be on target as the supply/demand dynamics of Glasgow’s office market shifts.
“In particular, this micro-location has become the prime address in the city with access to all possible amenities right on the doorstep.”
Colin MacKenzie, office agency partner at Knight Frank in Glasgow, said: “There are an almost unprecedented level of occupier requirements in Glasgow city centre. We’re also witnessing an erosion in the supply of new Grade A office space.
“These forces make it the perfect time to bring high quality, centrally located accommodation, like 100 Queen Street, to the market. We are anticipating a great deal of interest in the property from a range of potential occupiers.”
Ken McInnes, partner at Ryden, added: “The views on every floor onto Royal Exchange Square are compelling and our two new penthouse floors are going to be absolutely stunning. This will be highly-sought-after Grade A office space.”