M&G Real Estate secures approval for £100m Glasgow office project

WCN Editorial Team 16 May 2017 EUROPE BUSINESS

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.

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