Their joint venture is about to seek planning permission from Glasgow City Council.

The proposed development on a key site in the middle of Glasgow’s International Financial Services District, will comprise two commercial buildings of ten storeys (180,000sq ft.) and six storeys (80,000) sq ft respectively, with ground floor retail space in both. A third building will comprise retail and residential accommodation.

Michael Smart, development director, BAM Properties, said: “This is a strategic alliance between Taylor Clark which owns the site and BAM as a developer and contractor with a substantial track record in bringing attractive sustainable developments to the market. This project builds on our positive experience at our CONNECT110NS development in Queen Street. We have carefully researched the supply pipeline and have identified a strong undercurrent of demand from top grade companies and organisations. Together, we will create a state-of-the art development that will meet the requirements of forward thinking business tenants and investors.”

Jon Brand, managing director, Taylor Clark Properties, which has developed Meridian Court, The Equinox and City Point 1 & 2 office schemes in Glasgow, said, “A lack of Grade A space is limiting investment in the city and with rents stabilising we believe the time is right to combine our expertise to deliver this striking mixed use development.”

The design of the new development was undertaken by architects Cooper Cromar and will include the retained façade of the listed warehouse buildings on the site that were built in the early twentieth century.

The value of the completed development is estimated to be more than £100m and its creation will support up to 2,750 jobs.

Work on the development will start immediately, subject to the necessary planning consents being secured.