A MAJOR development is now under way which its owner says will address the lack of Grade A office accommodation in Glasgow city centre.
The former Cerium Building, on the corner of Douglas Street and Waterloo Street, will offer 85,000 sq ft of premium office by the time development work is complete in November. Spread over six levels, it will offer a variety of large floorplates, ranging from 6,000 to 16,000 sq ft.
The development has received £12 million of funding from the Scottish Partnership for Regeneration in Urban Centres as part of the Building Scotland Fund. The overall value of the project, which will include an 10,000 sq ft extension, has not been disclosed. JLL and CBRE have been appointed letting agents.
Gareth Richardson of asset manager and property owner 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.”
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