UK-based property investor M&G Real Estate has secured planning permission from the Glasgow City Council for its £100m office redevelopment in central Glasgow, Scotland.
As part of the project, the company will knock down two existing Corunna House buildings and construct a new 12-storey facility with 275,000 sq ft of office space.
The building, located near Glasgow Central Station, will be rebranded as 33 Cadogan Street. It will include a retail unit on the ground floor, 64 vehicle car parking spaces and cycle parking for up to 320 bikes with spa quality showers and changing rooms.
M&G Real Estate director of development management Lynn Smith said: “There is a clear occupier appetite for high quality office space in Glasgow and a lack of supply in the city’s office market, which makes it a prime location for investment.
“We are confident that 33 Cadogan Street will attract a strong line-up of tenants, bringing new jobs to the city, and we are looking forward to beginning this exciting project.”
Work on the project is expected to begin in the second quarter of 2018.