Development under way
Signal gets to work on Grade A Glasgow office block
The building will provide badly-needed Grade A space
Work has begun on Signal Capital’s transformation of a six-floor block, formerly known as the Cerium building in Douglas Street, Glasgow.
On completion in November it will deliver 85,000 sq ft of Grade A office space in the city centrw and will be one of the only significant self-contained refurbishment projects to complete this year.
It is one of the most prominent office developments within the International Financial Services District (IFSD), occupying a highly-visible position on the corner of Douglas Street and Waterloo Street.
The Scottish Partnership for Regeneration in Urban Centres (SPRUCE) Fund is committing £12 million from The Building Scotland Fund for the refurbishment which will include the addition of a 10,000 sq ft extension, providing larger more regular floor plates, and a complete transformation of the front exterior with new double height entrance.
Gareth Richardson, director of asset management at Signal Capital, said: “The current lack of high-quality Grade A office space in Glasgow has given us the confidence to invest significantly in the 55 Douglas Street project.
“We have spent a great deal of time ensuring the refurbishment proposal and final specifications reflect the requirements of prospective tenants and I look forward to see the project progress as works get underway.”
Wellness facilities have been highly considered during the design process with the basement area planned to feature; 120 bike racks with cycle repair station, a studio area, changing and locker facilities in addition to a drying room, as well as high-powered showers and a convenient towel service for tenants. Twenty-four parking spaces, including four electrical vehicle charging points, and Amazon Lockers will also be available.
Cabinet Secretary for Communities and Local Government, Aileen Campbell, said: “I am pleased the Scottish Partnership for Regeneration in Urban Centres Fund has been able to support the redevelopment of this key site in Glasgow city centre, using additional investment through the Building Scotland Fund. This commercial loan will contribute to providing much needed high quality office space in Glasgow, generating opportunities for businesses to create new jobs and encourage economic growth.”
The project is being undertaken by a team including contractor Clark Contracts, architect Michael Laird Architects, M&E engineers Hulley & Kirkwood and structural engineers Etive Consulting. JLL and CBRE have been appointed as joint letting agents.