1 West Regent Street, Mountgrange Real Estate Opportunity Fund (“MoREOF”) and M&G Real Estate’s new landmark Grade A office development located in Glasgow city centre, is making significant progress with just over one year to go until completion.
Substantial headway has been made on-site recently with the substructure and central core slipforming now complete and the structural steelwork and drainage system progressing well.
A luffing jib crane, which has the ability to reach all parts of the site, is also now in place and is located at the top of the central core structure.
Mike Buchan, director at Jones Lang LaSalle, joint letting agent, said: “Despite there still being a year to go until completion, we have received a healthy level of early enquiries. The severe dearth of Grade A office space in the city centre, particularly for larger requirements, and the shortage of new development is encouraging occupiers to consider pre-letting opportunities for delivery in 2015 onwards.”
On completion in March 2015, 1 West Regent Street will deliver approximately 143,000 sq ft of Grade A office and retail space over eleven levels, providing a welcome boost to the city’s commercial property market. The development is located in the central core of Glasgow, near to Queen Street station and adjacent to the Buchanan Quarter retail scheme.
Alison Taylor, director at GVA James Barr, joint letting agent, added: “The Glasgow office market is currently going through a very positive period with a stream of new transactions due to conclude in the first quarter of the year. This is due to continue well into the year with more new, large requirements expected to come to the market for modern, efficient buildings in good locations. We are confident 1 West Regent Street meets these requirements.”
The striking building will benefit from having a double height reception, high quality finishes throughout and open plan, flexible and efficient floor plates which range from 12,798 sq ft to 13,627 sq ft and are virtually column free. It also includes 40 car park spaces and 54 cycle spaces, and has dedicated sports style changing rooms with lockers and high powered showers. It is set to become one of Glasgow’s greenest buildings with EPC ‘A’ and BREEAM ‘Very Good’ ratings expected to be achieved.
The development will be completed and ready for occupation by March 2015. Leasing enquiries should be directed towards joint agents Jones Lang LaSalle and GVA James Barr.