| scottish news BLOCKBUSTER OFFICE CONVERSION O
ne of the most well-known buildings in Glasgow, the iconic Art Deco cinema on
West Regent Street, has found a new lease of life as commercial office space following a complete renovation.
The Odeon cinema, which closed its doors in 2006, has been rebranded as The Reel House and converted into four floors of Grade A office accommodation. The property, which also boasts an extensive third floor balcony, was purchased in 2016 by Carrick Properties. Knight Frank has been appointed alongside JLL as joint letting agents for the building.
Originally opened in 1934 by the
Paramount Cinema chain, the building has long been one of Glasgow’s most popular venues, and in between film screenings, has
also played host to concerts by The Beatles, Jimi Hendrix, Bob Dylan, Dusty Springfield, Johnny Cash and The Rolling Stones. The refurbishment, which was carried out by Ryder Architecture, means the category B listed building has retained many of its traditional elements while offering more than 14,000 sq.ft of flexible, open-plan workspace with a rental value of £22.50 per sq.ft. Sarah Addis, Associate at Knight Frank,
said: “The Reel House is steeped in history and remains as iconic as ever. The renovation has created a stylish, contemporary and flexible workspace. Given the quality of the refurbishment, its central position, and the lack of Grade A office accommodation of its kind available in Glasgow, we anticipate occupiers will be captivated by the space.”
Abbotsford Business Park NEWS IN BRIEF
A new state-of-the-art health and care centre at Queens Quay, the £250million regeneration project on the site of the former John Brown’s shipyard in Clydebank, has been granted planning permission by West Dunbartonshire Council.
Canmoor, the new owner of Westway Park in Renfrew, has announced its first new occupier, since acquiring the park from the administrator for £40 million in March; with Canmoor agreeing terms with AMG Group to establish a new 113,000 sq.ft distribution centre.
Ryden report that Ridesharing, food delivery, and transportation company, Uber, and fashion accessories designer, Powder Design have become the latest tenants to take space at Buccleuch Properties’ office development at Silvermills Court, Henderson Place Lane, Edinburgh.
Shepherd C S is offering an industrial/storage unit close to Union Square, Aberdeen to let. A short-term lease is available and rental offers are invited.
The Edinburgh office of Colliers International, has been instructed to market the Lands of Loyal Hotel, Loyal Road, Alyth in Perthshire, for offers of around £1.15 million.
Falkirk Council has constructed 4 new industrial units at Abbotsford Business Park.
The park occupies a prominent position adjacent to the A9, a short distance from Junctions 5 and 6 of the M9 motorway and sits within an established business location within Falkirk.
Construction of these new units is the first time that speculative development has taken place at
Abbotsford Business Park, but it is anticipated that demand will be strong due to short supply for units of this size currently available in the Falkirk area. There is the capacity to meet demand for more industrial units in the park.
The first phase of the development comprises a terrace of four high quality units extending to 235 sq m each. Building specification is as follows
• steel portal frame • insulated wall and façade system • 6m eaves height • sectional industrial door • solid concrete floor • 3 phase power • gas radiant heating • PV solar panels • common yard area • car parking
Extending to approximately 18 acres, Abbotsford Business Park was formerly a British Aluminium works, locally known as Alcan. The site is owned by Scottish Enterprise and after receiving assistance from European Regional Development Fund, the site was cleared, remediated and new services installed, Falkirk Council purchased this plot in 2015. Its close proximity to the M9 and the national motorway network make it a very attractive location. In addition, external infrastructure improvements affecting three roundabouts initiated through funding from the local authority’s Tax Incremental Finance scheme will reduce potential developer contributions payable through section 75 agreements.
Property firm JLL has unveiled its newly-revamped Edinburgh office, which has undergone a significant transformation to become an ultramodern work space with technology at its heart. They recently signed a new 10 year lease at 7 Exchange Place in the heart of Edinburgh’s Exchange District.
Scarlett Land and Development have recently moved - Their new address is 26 Alva Street Edinburgh EH2 4PY - visit
www.scarlettdev.co.uk
Ryden LLP and Galbraiths are pleased to announce three significant industrial property lettings on behalf of Catalyst Capital who own a portfolio of properties on Tweedbank Industrial Estate in Galashiels. and now only have one 347 sq.m (3,737 sq.ft).unit remaining at £4.00 per sq.ft.
For further details please call Falkirk Council on 01324 504999 or email to
property@falkirk.gov.uk 22 COMMERCIAL PROPERTY MONTHLY 2018
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