Glasgow green light for Grade A block

PLANS have been approved for 170,000 sq ft of grade A office space in Glasgow’s St Vincent St, indicating some confidence in the property sector and in the city’s financial district.

The St Vincent Plaza development, by Abstract (Glasgow), is likely to be one of the only speculative office schemes of its size in the UK and will be available at £23 per sq ft – a significant discount on current headline rents in the city.

Construction will start in the next few weeks with completion towards the end of 2013.