Buchanan Bus Station in Glasgow will be given a makeover with new high-rise buildings and public spaces under plans for a regeneration of the area.

The facility is owned and operated by Strathclyde Partnership for Transport and handles more than 500,000 bus departures a year.

Improvements to the internal concourse in 2010 left the rest of the station untouched from its original layout in 1977.

SPT says “the size of buses and coaches has increased making operations more challenging and there are opportunities for the bus station itself to connect more easily with the city.”

The long-term vision is for the area to become “a vibrant new gateway to Glasgow, fully integrated in the local area, with a modern bus station and transport hub at its core”.

SPT is working with Glasgow City Council and has appointed AtkinsRéalis and New Practice to deliver the masterplan which is now out for consultation.

Chris Crombie, technical director for architecture at AtkinsRéalis said: “The Buchanan Bus Station has long been a central transport hub for the city of Glasgow. But it needs to be fit for purpose for the future which requires a new vision for its role both as a bus station to enable transport links, and as a destination in itself.

Richard Robinson, SPT’s director of transport operations, said: “The area around the bus station is undergoing change and now is the perfect opportunity for SPT to consider how Buchanan Bus Station fits in with the regeneration of that part of the city.

“We look forward to working with AtkinsRéalis on the masterplan and changing the bus station so it remains a vital part of a sustainable transport network in our region.”

Glasgow rents rise in older property

Rents for refurbished office space in Glasgow have now exceeded that of new build properties by as much as £4.50 per sq ft, Savills has revealed.

According to data in Savills’ latest Glasgow Scottish Property Outlook, over the next three years there is currently no new office development planned for the city meaning this trend is likely to continue.

Out of the Big Six office markets (Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester), Glasgow and Edinburgh are the only cities that have seen a full comprehensive refurbishment secure rents in excess of those for a new build development.

Commercial property demand rises

Demand for commercial property in Scotland rose in the last quarter, driven by an uptick in the office subsector, according to the latest Royal Institution of Chartered Surveyors (RICS) commercial property monitor. But there are signs of some caution amidst rising uncertainty and fiscal tension.

Overall occupier demand increased through the third quarter of the year, with a net balance of 10% of Scottish respondents reporting an increase, up from the 3% reported in the survey previous.

A net balance of 21% of respondents reported a rise in demand for office space which is up from the 5% seen in Q2 and the second highest balance seen across other UK regions behind London. A net balance of 14% of Scottish respondents reported an uptick in demand for industrial space, while a net balance of -3% of surveyors reported a fall in demand for retail space.

However, investor demand appears to have taken a dip. A net balance of -10% of surveyors in Scotland report that investment enquiries at all-sector level declined for the second consecutive quarter.

Both office and retail space saw falls in demand from investors (net balances of -15% and-18% respectively), and whilst industrial space saw rise in investor demand, it was only marginally so (a net balance of 4%).

Despite this, capital values are expected to rise over the next three months, albeit at a slower pace than seen previously.