New Orleans, Louisiana 2021-09-11 21:31:42 –
The house is planned at St. Enoch Center
Plans have been submitted to convert parts of Glasgow’s St. Enoch Shopping Mall into homes and hotels as another sign of a shrinking retail business.
Sovereign Centros’ wants to turn the former Debenhams building into an office and build a 4-star hotel and apartment.
Real estate developers have submitted application notices and proposals for environmental impact assessment (EIA) scoping requests to the city council with a 15-20 year vision for hubs in the city center.
The plan application is being prepared for submission later this year.
Guy Beaumont, director of Sovereign Centros, said:
“We would like to further develop this by providing a wider variety of uses to improve connectivity to the River Clyde.
“We need to work closely with key stakeholders and engage with the local community, and we look forward to sharing the details of the proposal soon.”
The Master Plan rethinks St. Enoch Center as Scotland’s “most important multipurpose development” offering retail, leisure, entertainment, hotels, offices and residential in the city centre.
Proposals for an area totaling approximately 2.5 million square feet include converting the former Debenhams building into “high quality” office space and building a four-star hotel.
The project team, including Sovereign Centros and the architect Leslie Jones Architecture and planning consultant Iceni Projects, will hold further discussions and public consultations with key stakeholders in the coming months.
Atlantic Square secures Atkins
BAM TCP Atlantic Square has secured Atkins, an engineering and project management consultancy, as the first occupant of 2 Atlantic Square, a grade A office development speculatively constructed in Glasgow’s International Financial Services District.
A joint venture between BAM Property and Taylor Clark, 2 Atlantic Square features 96,650 square feet of retail / restaurant space on six floors and 7,000 square feet of retail / restaurant space on the ground floor.
First tenant of Building 2
Atkins will lease 20,739 square feet on some of the top 6th and 5th floors, along with 6th floor underground car space.
Atlantic Square Building 2 was fully rented to HM Revenue and Customs for at least 20 years and sold to Regal & General following the completion of Building 1, a 10-story Grade A office building.
Guile plan delay
Work on the development of 1,700 homes in Edinburgh Park has been delayed by more than £ 1.9 million in donations from undelivered developers.
London-based developer Parabola first obtained a planning permit for the South Phase of Development north of Edinburgh Park Railway Station in December 2020.
However, the planning permit was granted provided that a legal agreement between the parties on affordable housing, education and medical contributions was reached within six months.
The council will consider extending the deadline at today’s meeting.
Sale of industrial park
The industrial park at the eastern end of Glasgow was acquired in a £ 3.5m off-market transaction. This reflects a net initial yield of 8.59% and a capitalization rate of £ 32.50 per square foot.
The Kahn Tyne Industrial Park, near the M8 and M74 highways, spans approximately 100,000 square feet and consists of 17 units ranging from 1,000 to 10,000 square feet.
New owner: Carntyne Industrial Park
The rent to pass is £ 297,000 per year (£ 2.97 per square foot), a 1.25 year WAULT.
Jamie Addison-Scott of real estate firm Galbraith, who advised Shed5 on the acquisition, said:
“We were able to take decisive action with this off-market acquisition. Shed 5 looks forward to working with our tenants to implement our asset management strategy.”
Homes plan for St Enoch Source link Homes plan for St Enoch