Go ahead for ‘long-overdue’ Glasgow scheme
Harbert Management Corporation and XLB Property have been granted planning permission for the “long-overdue” regeneration of the seven-acre Central Quay site in Glasgow.
The masterplan for the brownfield site, which has lain vacant for several years, includes 400 new homes, over 300,000 sq ft of offices, a 150-bed hotel, food and retail units and extensive public realm.
Harbert and XLB are also in discussions with a major private rented sector developer to build homes at Central Quay.
“Central Quay is a significant site and its regeneration is long overdue,” said XLB founder Tony Lawson. “It will now provide a major new mixed-use quarter to the western edge of Glasgow City Centre close to the SSE Hydro, Scottish Exhibition Centre and major transport hubs.
“The masterplan is designed around a vibrant high-quality environment, providing new homes and offices plus supporting amenities.”
He added that, due to Central Quay’s location on the periphery of Glasgow city centre, the grade-A office space would be available to pre-let at significantly less than city centre rents, which are in excess of £30/sq ft.
The first phase of development is expected to commence towards the end of 2018.
The joint venture is being advised by GVA and CBRE and the masterplan was designed by architects Keppie Design.