reGlasgow

OFFICE Space For 7,000 Thousands Workers Part Of ‘Generational’ Tradeston Transformation Due To Start This Year

TRANSFORMATION of the Tradeston area of central Glasgow looks set to start later this year, with huge office and housing developments part of the masterplan for the site, to be known as Buchanan Wharf.

Glasgow City councillors have been updated on plans by Drum Property Group Limited which hopes to start work at the three-block riverfront district in the final quarter of 2018.

A report by officials stated: “The approved masterplan supports the principle of a comprehensive mixed use development with place-making central to the vision of delivering a vibrant new district.

“Approved land uses include offices, residential, hotel, serviced apartments, retail, bars, restaurants and a crèche. If realised this development will bring significant employment opportunities and new homes to the south bank with supporting infrastructure and development to create a successful district that is connected directly to the city centre.

“The commencement of the Buchanan Wharf development will fulfil a long-standing aspiration of the City Council to kick-start the regeneration of Tradeston.

“When complete (currently estimated mid 2021) the development will present a generational opportunity to deliver approximately 1.25million sq.ft. of office, residential, retail and service space for named occupiers in an exemplar master planned environment.

“The development will be anchored by three major inward investment projects including two separate office developments of circa 500,000sq.ft and 210,000 sq.ft, accommodating around 7,000 staff, and 310 build-to-rent residential units.

“The developer and their design team are now working towards submission of detailed application(s) to seek the approval of matters specified in conditions for the layout, design, development capacity and urban form.”

As part of the build-up to work getting underway, the council agreed to sell three areas of land it owns in Tradeston for £1,317,500.

Tradeston has been a long-standing regeneration priority for Glasgow after it suffered significantly from post-industrial decline.

Officials explained: “Despite recent public investment in strategic infrastructure and effectively being located on the opposite bank of the river from Glasgow’s International Financial Services District, the area remains dormant in regeneration terms.

“This is due in part to the [worldwide]economic crash around 2007, the constraints of multiple ownership and the requirement of significant up-front development funding to enable redevelopment to be undertaken at a scale commensurate with the location thereby necessitating end user occupation.”

The report continues: “Following the economic crash the commitment and leadership shown by Glasgow City Council to kick-start the regeneration of the Tradeston district has been considerable.

“The Tradeston Bridge opened in 2007 providing a direct foot and cycle bridge to the International Financial Services District on the north bank of the River Clyde. This connection and associated public realm works greatly improves synergy with the City Centre and opens up Tradeston for regeneration.

“Council Officers have maintained a continuous dialogue over recent years with various interested developers and have constantly advised them that the council would welcome interest for regeneration proposals as and when they were in a position to demonstrate any significant agreement or control over property interest in these three blocks.”

The council was approached by Drum Property Group in 2015 to see whether the authority would support the redevelopment of the entire three blocks for a mixed use scheme. Planning permission in principle was granted in January 2017.