Savills, on behalf of Scottish Enterprise, has launched the latest phase of commercial development at Glasgow’s landmark Pacific Quay to offer new opportunities for office, leisure and retail use.
Savills, on behalf of Scottish Enterprise, has launched the latest phase of commercial development at Glasgow’s landmark Pacific Quay to offer new opportunities for office, leisure and retail use.
Pacific Quay is a major inner-city development site extending to circa 128 acres (52 hectares) along the River Clyde and positioned within the heart of the Creative Clyde initiative, Scotland’s flagship location for media, technology and creative businesses. The site has planning consent and is also recognised as one of only four strategic developments in Scotland with designated Enterprise Area status benefitting from reduced business rates, fast-track planning processes, training support and international marketing for qualifying businesses.
The latest phase of commercial development extends to almost 10 acres (4 hectares) across various plots and has planning in principle for up to 318,880 sq ft (29,624 sq m) of business space, 19,569 sq ft (1,818 sq m) of restaurant and leisure accommodation and 15,500 sq ft (1,440 sq m) for retail use. Savills is inviting offers to buy the development plots.
David Cobban, director of business space agency at Savills Glasgow, comments: “Activity is picking up at Pacific Quay and we are receiving an uptick in interest from developers and occupiers as the economy improves, which has spurred us to launch the latest phase. Most recently De Vere Group, the hotel operator and FTSE 100 listed business, has committed to the development of a new Village Urban Resort, which is expected to open in the summer of 2015. De Vere joins a growing number of major retail and leisure operators that have invested in Creative Clyde and underlines Pacific Quay’s position as one of the premier business and leisure destinations in Glasgow.
“Construction of Fastlink is well underway, which will further improve the already established infrastructure that allows access to Glasgow city centre in under six minutes. Moreover, the anticipated development of up to 146 new homes as part of Pacific Quay is expected to transform the area into one of Glasgow’s prime destinations to both work and live.”
Allan McQuade, business infrastructure director at Scottish Enterprise, adds: “Companies need access to high quality business infrastructure that provides a vibrant environment for them to grow and flourish. We already have major entertainment, technology and digital organisations such as BBC Scotland, STV, Capital Radio, BIP Solutions, SECC, Film City Glasgow and Glasgow School of Art's Digital Design Studio located in Pacific Quay, as part of the area’s Creative Clyde community.
“This latest development phase of Pacific Quay will allow the area to benefit from further attractions by creating restaurant, leisure and retail facilities for companies, residents and visitors.”