By Scott Wright

CONSTRUCTION is due to begin soon on a major speculative office development that backers say will help address the shortage of Grade A space in Glasgow city centre.

CEG, the property development and investment company, has appointed national construction firm McLaughlin & Harvey to work on the 300,000 square foot development at 33 Cadogan Street, formerly know as The Grid. The building is expected to be completed in the summer of 2025.

Paul Richardson, investment manager at CEG, said: “The start on site with this speculative development is testament to CEG’s confidence in the Glasgow market. The city is suffering from an acute lack of Grade A office supply and 33 Cadogan Street will help to remedy that.

“A best-in-class office development, targeting the highest sustainability credentials, it will respond to occupier’s demands for net-zero carbon in operation office space, as well as providing fantastic amenities and a healthy and productive place to work.”

Cooper Cromar, the Glasgow-based architecture practice, has been working with CEG on sustainability aspects of the building, while property agents JLL and CBRE have been appointed to market the space to prospective tenants.

Andy Cunningham, senior director CBRE, said: “The flight to quality has diminished the availability of top-quality office space in Glasgow and Covid-19 only accelerated this trend. With no new-build development being delivered until 33 Cadogan Street completes in summer 2025, we anticipate pent-up demand from occupiers.”

Alistair Reid, director at JLL, added: “33 Cadogan Street has been designed with sustainability and occupier amenity at its heart to further support the return of occupiers to the office in a post-pandemic world. “Targeting net-zero carbon in operation, the building aims to align with occupiers’ corporate carbon-reduction goals.”

Meanwhile, a major project is under way to transform a building in the heart of Edinburgh’s Exchange District.

The property, 30 Semple Street, will span 57,000 square foot of high-specification office space, while aiming to become one of Edinburgh’s greenest developments.

Acting on behalf of CBRE Investment Management, Corran Properties has appointed Ogilvie Construction to carry out the project. The existing building, designed by Michael Laird Architects and formerly known as Excel House, will be stripped back to its frame before two new floors are added, as well as a new facade. It is due to be complete in June 2024