Former Glasgow home of Daily Record next to River Clyde to be redeveloped into ‘something special’

Site said to present ‘many possibilities’ by new owner, which already operates two student sites in the city.

The former home of the Daily Record newspaper next to the River Clyde in Glasgow is to be redeveloped into “something special” following the site’s multi-million-pound sale.

Property developer Downing, which is credited as a pioneer of the purpose-built student accommodation (PBSA) sector and already has two such sites in Glasgow, has acquired the former Scottish headquarters of media group Reach for an undisclosed sum. The firm plans to redevelop the two-acre site on Anderston Quay on the north bank of the Clyde. The vast 150,000-square-foot office building, which replaced an earlier landmark tower block, previously housed Scottish titles including the Daily Record, Sunday Mail, Scottish Daily Mirror and Glasgow Live.

Liverpool-based Downing, which also operates in other commercial property areas, noted that the “prime” site was located close to major road and rail links, including the M8 motorway, while offering “strong pedestrian links” to Glasgow city centre and National Cycle Route 75. The waterfront building is composed of a basement, ground and two upper floors, with 220 basement car parking spaces and 36 additional spaces at ground level.

The vast 150,000-square-foot office building on the north bank of the Clyde previously housed Scottish titles including the Daily Record and Sunday Mail.

Paul Houghton, director at Downing, said: “This prime waterfront site presented an exceptional opportunity for us with many possibilities, and we are very excited to embark on transforming the site into something special. Our expansion in Glasgow is a vital part of our strategic growth plans and we are thrilled to be developing such an iconic site in the heart of the city.”

The acquisition builds on the company’s recent acquisitions in Brighton, London, Bristol and Newcastle. Downing operates sites that span the length of the UK and the developer already operates two PBSA sites in Glasgow - West Village and West View student halls - which are based close to the University of Glasgow. The property developer and manager has delivered some £2 billion of real estate developments across the UK, with a future pipeline amounting to £1.5bn.

In November, it emerged that work was to push ahead with two £30 million new-build student flat projects as the sector continues to attract investment and buck the wider property market. Mosaic Architecture + Design said it had submitted a planning application on behalf of Courie Investments for the £30m redevelopment of an existing office building at 249 West George Street in Glasgow. Due to “structural issues” the building is to be demolished and the site redeveloped to provide purpose-built student accommodation, providing a mix of 147 flats and related amenities.

Andrew White of Courie Investments said: “There remains significant demand for student accommodation - according to Savills research there are four students for every PBSA room available in Glasgow for the 2023/24 academic year. The problem is expected to worsen.”

Meanwhile, plans are being taken forward for a £30m student accommodation scheme in the heart of Dundee. The site, which fronts onto the busy artery of Marketgait, has planning consent for a seven-storey, 189-studio bed block that will feature amenities including a ground floor “student hub”, gym, cinema room, dining room and a landscaped external courtyard.

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