Osborne+Co secures planning approval for £140m Argyle Street office development
Plans to deliver “world-class” office space for up to 3,000 employees in Glasgow’s International Financial Services District (IFSD) has been granted full planning approval by Glasgow City Council.
Property development and investment company Osborne+Co said the Argyle Street site, which has been derelict for more than 20 years, will become one of the most significant office buildings to be built in Glasgow over the last 10 years.
Designed by Glasgow-based architects Cooper Cromar, the overall scheme will provide approx. 270,000 sqft net of Grade A office space over ground plus 13 upper storeys, with an end value of circa £140 million.
On completion, it will provide large open-plan office floor plates up to 23,000 sq ft net, which will offer first-class office accommodation designed to meet the requirements of today’s multinational companies investing in Scotland.
Will Hean, development director, Scotland for Osborne+Co, said: “We would like to thank Glasgow City Council and their planning team for their constructive input, insights and valuable guidance throughout this process. Working collaboratively at all levels with the Council over the past 18 months towards this final consent has involved sound judgement and bold vision combined. We are delighted to now be in a position to progress this impressive office scheme onwards towards the construction phase.”
Acquired by Osborne+Co and JV partners Scotsbridge Holdings in 2018, the development will see this long-neglected site connected back to the city through infrastructural improvements, including support of the Argyle Street ‘Avenues’ project and surrounding cityscape.
Conor Osborne, CEO, Osborne+Co, said: “Glasgow is a key regional business hub recognised most notably for financial services, life sciences and renewable energy.
“We are confident that this ambitious development will help Glasgow to fulfil its full potential by attracting global occupiers looking to invest and expand their UK presence and benefit from the skilled local workforce Glasgow has to offer.”