Friday, May 7, 2021
UK

Property firm to create mixed-use development

JP Morgan

The project will include the transformation of the Met Tower, to deliver office space

Property development and investment firm, Osborne+Co has secured planning consent from Glasgow City Council to create a mixed-use city centre development, following an application made last April.

The major refurbishment project will include the transformation of the City of Glasgow College building – known as the Met Tower – on North Hanover Street, to deliver 120,000 sq ft of ‘de-furbished’ Grade-A office space.

The company plans to demolish an existing ‘podium’ building facing Cathedral Street to make way for a 260-bed hotel across 11 floors, which would connect to the Met Tower via a landscaped plaza, also accessible to the public.

Given the building’s location in the heart of the Glasgow City Innovation District, Osborne+Co suggested that the space will be attractive to tech firms, noting neighbouring developments such as the University of Strathclyde’s Technology and Innovation Centre and Inovo buildings.

In total, the mixed-use development will represent a £100m investment from Osborne+Co, which also has a construction project underway on Argyle Street which will become JP Morgan’s European technology hub, accommodating up to 2,700 staff.

Will Hean, development director at Osborne+Co, said: The Met Tower is intrinsic to Glasgow’s identity and we’ve worked closely with key stakeholders to ensure that our final proposal complements the surrounding area and provides dynamic indoor and outdoor space, which will capitalise on its central location beside Queen Street train station.

He said, achieving planning consent comes at a critical time in the real estate market which continues to be challenged because of the coronavirus pandemic. Despite this, we are committed to investing significantly in Glasgow as we recognise the strength and diversity of the Glasgow economy. Glasgow’s tech sector in particular will be significant as the economy works its way back to strength.

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