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Development opportunity from
A new waterfront development in the centre of Glasgow
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Glasgow is a highly attractive inward investment location for leading international financial services companies. IFSD
WASHINGTON EXCHANGE - A MAJOR PRE-LET WATERFRONT DEVELOPMENT OPPORTUNITY IN THE CENTRE OF GLASGOW Over the last 20 years, Glasgow’s Broomielaw area (next to the River Clyde) has undergone significant regeneration and public realm investment. This has seen it mature as a business location within the city’s International Financial Services District. Home to thousands of office occupiers, a wide range of professional, government and financial services businesses have chosen to locate in the area attracted by the many top quality buildings which have been developed.
With the new riverfront walkways and public areas, the pedestrian bridge over the river, planned restaurant development and potential arrival of the new Fastlink public transport system, the area looks forward to further evolution and progress.
Glasgow is one of the UK’s major cities and further details on its attractive lifestyle offer, education, grant support and other background information can be found by accessing www.ifsdglasgow.co.uk
Find out more about locating to the IFSD district of Glasgow
A stylish, cosmopolitan centre with something for everyone; Glasgow is one of Europe’s great cities. IFSD
WASHINGTON EXCHANGE - GLASGOW - A GREAT PLACE FOR GLOBAL TALENT, TECHNOLOGY AND SKILLS
Glasgow is Scotland‘s largest city and a great place to live and work. Its half hour drive population catchment area of well over 1 million people, supports a vibrant retail and central business district. In addition to a massive expansion in the retail and leisure offering, the city has seen major growth in its office stock through phases of development in the traditional core and the new corporate buildings in the Broomielaw area down to the River Clyde. Offering a fantastic quality of life and a friendly culture, the city has a wide range of Scottish and international service sector and financial services companies. Glasgow’s central business district continues to evolve as the economy broadens, whilst the city also continues to attract major commercial property development investment typified by the two major speculative office schemes at 110 Queen Street and One West Regent Street. The city has boosted its profile and targeted a wide range of financial services occupiers over the last ten years through the now well established International Financial Services District (IFSD).
TOP FACTS YOU NEED TO KNOW ABOUT GLASGOW
Glasgow is Scotland’s economic powerhouse. It generates more than £13 billion gross value added (GVA) to the nation every year.
The city has a thriving international business community and is home to global brands such as JP Morgan, Morgan Stanley, HSBC, Tesco Bank, Barclays Wealth and Dell.
A host of world class hotels have already made their homes here including Hilton, Marriott, Radisson Blu, Holiday Inn, Hotel du Vin, Citizen M and Malmaison. Glasgow outperformed key European cities in 2011, including Hamburg, Barcelona, Rome, Dublin, Vienna, Prague and Copenhagen, with an average occupancy rate of 74.9%.
Glasgow is hosting the 2014 Commonwealth Games, firing the starting gun for major development in and around the city.
Over the past seven years, conference business has been worth £827 million to Glasgow’s economy, equating to three million delegate room nights, which has helped transform the city into Scotland’s conference capital.
Many major inward investing companies have moved in and then grown their operations attracted by the availability of a skilled and loyal labour pool, further boosted by a strong supply of graduates from the city’s world renowned universities.
“Glasgow is home to the University of Strathclyde, the Times Higher UK University of the Year. Strathclyde is a leading, international technological university that attracts students from 100 countries, has a global community of over 150,000 graduates and attracts £42.5m in annual research income. Strathclyde has extensive research, innovation and skills collaborations with global, leading-edge technology, energy and engineering companies: JP Morgan, Weir Group, Rolls Royce, Boeing, GSK, Astra Zenica, Scottish Power/Iberdrola, SSE, Babcock, BP, Wood Group to name but a few.
At Strathclyde we are investing over £350m to transform our campus, teaching and research infrastructure to meet our aspirations to grow and service the opportunities presented by Glasgow and the global market.
Come join us in Glasgow - a great place to invest.”
Professor Sir Jim McDonald, Principal and Vice Chancellor, University of Strathclyde, Glasgow
Glasgow International Airport handles around seven million passengers a year and serves around 90 destinations worldwide.
The city attracts 2.3 million visitors every year who generate £595 million for the local economy. Glasgow is the UK’s shopping capital, enjoying a reputation as the largest and most successful retail location outside the West End of London.
Glasgow is a top 10 European financial centre and is ranked 33rd in the world - Global Financial Centre’s index 2011.
£3.5 billion has been spent or committed since 2003 by the public and private sectors in the Clyde Waterfront area.
WASHINGTON EXCHANGE - A RIVERSIDE VISTA WITH ALL THE AMENITIES OF A CITY CENTRE LOCATION
The next area for development is this West Broomielaw zone which lies just immediately adjacent to earlier major developments but still firmly within the core central business district. Already anchored by the very substantial Pentagon Centre, the existing Kentigern House office building occupied by Ministry of Defence and the Menzies hotel, this location offers development potential and an opportunity for an occupier to locate in a new facility where their staff will enjoy all the public transport links and renowned retail and leisure facilities Glasgow’s city centre has to offer.
View a short video about Clyde Waterfront’s regeneration of the clyde.
Walking times from Washington Exchange to local amenities
Central Station 11 mins
Queen Street Station 21 mins
Cadogan Street Car Park 5 mins
Q Park Car Parking 5 mins
Menzies Hotel (4 star) 2 mins
Drive times to airports
Glasgow International Airport 14 mins
Glasgow Prestwick Airport 40 mins
BROOMIELAW
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CENTRALSTATION
RIVERCLYDE
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Kingston Bridge
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ACE European Group
WS Atkins
Scottish Government
BT
AXA Insurance
Scottish Power
Clydeport
Scottish Qualifications Authority
Lloyds TSB
Webhelp TSC
Macroberts Solicitors
BDO Stoy Hayward
NFU
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Ministry of Defence
Scottish Ministers
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Barclays PLC Hotel
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Proposed “Fastlink” and existing bus route
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The Clyde is being transformed into a very attractive, highly skilled, well connected and cost competitive location. WATERFRONT EXPO
WASHINGTON EXCHANGE - DEVELOPMENT OPPORTUNITY IN THE INTERNATIONAL FINANCIAL SERVICES DISTRICT (IFSD)
“The City Council welcomes this latest city centre waterfront offering and believes that the joint marketing approach of both unique sites will result in an outstanding development opportunity for the IFSD”.
Tom Turley, Assistant Executive Director, Development and Regeneration Services, Glasgow City Council.
The Opportunity at Washington ExchangeRecognising this site’s almost unique development potential, Marlebone Ltd and Scottish Enterprise have combined forces to promote this substantial highly visible riverfront site to major users and occupiers on a pre-let basis.
The SiteComprising half an entire city block, the subject property lies just to the east of the M8, Kingston Bridge and south of Argyle Street, one of the city’s main access roads from the Clydeside Expressway. With approximately 70 metres of river frontage onto the Broomielaw, the site is bounded by Washington Street, the Broomielaw and McAlpine Street.
Development is also planned on the neighbouring cleared development sites and this offers up the potential for phased development with altered public street layouts, etc.
The site extends to approximately 1.69 acres (0.68 hectares).
Planning BackgroundOver recent years a number of redevelopment schemes have been promoted for this site, some involving tower developments and major international hotels. Although the economic downturn post 2008 has precluded any of these concepts from being realised, the city and the site owners still hold to this vision for development. Glasgow City Council will welcome any party seeking to undertake major development at this location, particularly a major occupier or hotel operator.
An indication of the site’s flexible potential can be seen in the images within this brochure and by the fact that the 65 Washington Street portion alone has outline planning consent for 250,000 sq ft of Grade A Office space, 20,000 sq ft of retail and 25 apartments
PENTAGONBUILDING
BROOMIELAW Not to scale
WASHINGTON EXCHANGE - A UNIQUE DEVELOPMENT OPPORTUNITY
All pre-let, office and mixed use enquiries for the site are welcomed and partnership development on a phased basis will also be considered. The site has vast and exciting potential as part of Glasgow city centre.
All initial enquiries to:
Phil ReidPhil Reid Associates211/213 West George Street Glasgow G2 2LW
Tel: +44 (0)141 225 5168Mobile: +44 (0) 7876 398 [email protected]
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Colin MacKenzieDTZ 199 St Vincent Street Glasgow G2 5QD
Tel: +44 (0)141 304 3253Mobile: +44 (0) 7912 805 [email protected]
Misrepresentation ActThe particulars contained in this brochure are believed to be correct, but cannot be guaranteed. All liability, any negligence or otherwise for any loss arising from the use of these particulars is hereby excluded. May 2013
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