The Glasgow Economy
Glasgow is Scotland’s largest urban economy, and despite the global economic downturn, Glasgow has recently attracted an impressive list of new arrivals and expansions to the city including – Tesco Bank, esure, BNP Paribas, HSBC, Fortis, Handelsbanken and Odyssey Financial Technologies, because the City has invested in the basic infrastructure they need. They join an impressive who’s who of blue chip companies who underline Glasgow’s status as a world class business location – these include JP Morgan, Barclays Wealth, Morgan Stanley, First Data International, Aon, ACE Insurance, Clydesdale Bank and many, many more.
Property Development in Glasgow
Glasgow has some exciting times ahead. It welcomes the economic activity generated by its role as host to the 2014 Commonwealth Games. In preparing the city for the Games, Glasgow City Council is leading on 20 major infrastructure projects and these will sustain and create employment and business opportunities for the city.
Glasgow commercial property developments such as the International Financial Services District (IFSD) at the Broomielaw are creating a range of high quality office accommodation.
Extending from St. Vincent Street to the River Clyde, the International Financial Services District involves the development of more than two million square feet of new office space.
Glasgow will be one of a very few areas outside of London and the South East where speculative development will start in 2013. Two schemes have already committed: One West Regent Street (Mountrgrange / PRUPIM) and 110 Queen Street (BAM Properties).
Office Property in Glasgow
Prime office space has headline rents of £27 psf. Yields on prime space moved out through the first half of 2012 and they remain at 6.5% at the end of 2012. Good secondary office space is at 9.00% creating a record yield gap between prime and secondary grade.
Retail Property in Glasgow
Glasgow's premier retail area is Buchanan Street and with over 600,000 sq ft of shopping and food offers over 4 floors, the new Buchanan Galleries offers a superb retail experience.The established St Enoch Centre has been redeveloped to add more retail space and a food court in a £100 million project.
Glasgow Industrial Property
Much former Glasgow industrial property has been redeveloped and today new industrial growth is focussed on Eurocentral, which is one of Scotland's key commercial developments extending over an area of 650 acres. A high profile location on the M8 corridor between Glasgow and Edinburgh, Eurocentral provides both location and space, where warehousing / distribution, manufacturing and business users can work together.
Leisure and Hospitality Property in Glasgow
In the Pacific Quay area the digital media hub is anchored by the BBC and STV, while the Scottish Exhibition and Conference Centre (SECC), the new 12,000 seat Hydro Arena, The Glasgow Science Centre and an Imax complete a destination which attracts thousands of visitors.
Lodgings in Glasgow range from the newly refurbished Grand Central Hotel which has had £20 million lavished on it, and the usual international chains, to local guesthouses, some of which are in the fine Victorian townhouses around the city's Park area and beyond.
On UKBusinessProperty, there is a range of commercial properties broken down by type in Glasgow to either rent or buy. At UKBusinessProperty we aim to offer commercial properties for sale or rent in Glasgow including and possible land for sale. We are confident that UKBusinessProperty will be able to support you in your search for commercial property in Glasgow.