BAM to begin office and retail space project in Glasgow | 24 December 2012
A £50 million funding package is set to go towards new office and retail space in Glasgow, reports jackson-security.co.uk.
Funds provided by the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) Fund will help developers BAM create the new space, which is set to accommodate up to 1,500 workers.
The actual project will create 143,000 sq ft of Grade A offices and 20,000 sq ft of retail space at a former bank at 110 Queen Street.
BAM hopes that the project, which the firm itself is invested £40.4 million into, will generate ‘spin-off economic activity’, both short and long term in the construction sector and supply chain as well as a number of new apprenticeships. It will also go some way to providing high spec office space for Glasgow, allowing it to compete with other cities.
Nicola Sturgeon, Deputy First Minister, commented on the build to constructionenquirer.com: “Significant city centre developments like today’s £50 million boost for Glasgow are central to stimulating economic growth across Scotland.
“This is absolutely imperative in these tough economic times. It is vital that we support opportunities for new business to help create new jobs and also encourage inward investment to Scotland,” she added.
BAM hopes to kick off construction on 7 January and the project is set for completion in 2015.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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