PLANNING permission has been secured for a Grade A office building in Glasgow city centre that developers say will play a key role in the economic recovery from Covid-19.

Broadway Central will provide 110,000 square feet of prime office space at the top of Renfield Street, next to the headquarters of Tesco Bank.

It is the final phase of a £110 million masterplan, led by property developer MRP, which also includes a four-star Maldron Hotel, to receive planning consent. Construction of the 300-bedroom hotel is already well under way.

The approval from Glasgow City Council comes hard on the heels of a report by property firm Savills, which found the city’s historic shortage of Grade A office space has not eased through the pandemic.

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Angus Monteith, development director at MRP, said: “It is great news for Glasgow that the Council has supported our plans and we look forward to progressing this ‘best in class’ development. This investment is just another step in our commitment to the city which will support its economic recovery.

“The office building completes the development and will sit alongside our four-star Maldron Hotel which is currently under construction and due for completion summer 2021.  At a combined £110m the two sites represent a significant and important investment in Glasgow.”

The new office block, which will sit between Tesco Bank and the Maldron Hotel, is designed by Cooper Cromar, the Glasgow-based architecture practice. The developer says it will comprise 10 floors with panoramic views of the city; a rooftop terrace, and landscaped public realm garden, for use by occupiers and the general public, are part of the plans.

Andy Cunningham, senior director at property agent CBRE, said: “Whilst clearly the Covid-19 pandemic has delayed a number of developments across the city, we are very optimistic that businesses will thrive again and continue to look for top-class space in one of the UK’s most vibrant cities.

"With Glasgow’s development pipeline tightly constrained, the need for Grade A office space, particularly those offering the highest low carbon credentials, will be paramount in the drive to bring new investment and occupiers to Glasgow.”