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www.glasgowchamberofcommerce.com
There is some chunky space coming through. That’s good for the market, and... will
address some of the ongoing demand”
around 200,000sq ft – 300,000sq ft available to give choice to occupiers. “The crux of the matter for the
city is creating the next cycle of development in new build space.” Looking back, Ewan observed that
2017 saw the city reach its five year average of just over 600,000sq ft of take up. “Although the overall figures are up
there with the longer term average and activity levels have been good at the larger end, the flip side of that is that the middle tier market of local indigenous companies has been more subdued. “Larger corporate and government
activity has eaten into existing stock and the big thing for Glasgow right now is the lack of new build high quality office development in the pipeline.”
Refurbishment Ewan believes the current situation has created the opportunity for existing building owners to look at refurbishment options, which can be brought to market more quickly than new builds. In that vein, NFU Mutual is about
to complete a refurbishment of 191 West George Street (c 82,000sq ft), Aviva can provide 91,200sq ft at 123 St Vincent Street and are about to undertake more work there, while at 310 St Vincent Street a refurb being carried out by Praxis will offer 71,000sq ft. “There is some chunky space
coming through,” he added. “That’s good for the market, and hopefully that will address some of the ongoing demand. He believes that demand could
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