A HISTORIC building in Glasgow City Centre is set for major redevelopment to make it “suitable for a company headquarters”.
The proposals for 50 Bothwell Street include refurbished office accommodation with sub-division of ground floor retail and a new café and business hub at street level.
Along with internal alterations creating a ‘light-filled and activated atrium’, the fifth and sixth floors within the roof will be revamped to create office floorplates, flooded with natural light, along with landscaped roof terraces.
The building is held within Orion European Real Estate Fund V and has lain vacant since 2017. It’s hoped it will be ready for occupation towards the end of 2022.
Richard Low, of Orion Capital Managers, said: “This project represents a £35illion investment in Glasgow to create high-specification, energy-efficient, contemporary office accommodation in the very best location in the city at a time of constrained supply of grade A office space.”
A design statement submitted to city planners explains: “The development will revitalise the building into a vibrant high quality office building, suitable for a company headquarters, and will improve the character of the area through improved activation and associated economic benefits.
“The building has lain empty for several years and the scope of the proposal is to provide a considered refurbishment which addresses the perceived problems with the building that include a lack of presence at street level commensurate with an office headquarters building of this size.
“The central atrium space is lacking identity and the fifth and sixth floors of the building have disproportionate quality of space despite its elevation and potential to have fantastic natural daylight and rooftop views over the city.”
The document continues: “The new owner is experienced in delivery of similar projects and sees a clear opportunity to respond to an identified market demand for good quality headquarter office space of this kind and nature for the last quarter of 2022.
“As a consequence of there having been no new significant building starts during the pandemic there will be a shortage of Grade ‘A’ office in 2022/23.
“The proposals contained within this application respect the existing building envelope. The proposals for the reconfiguration and upgrading of the interiors will increase the usable floor space within the building and will activate and enliven this important building at roof level.”
Conceived as a corporate headquarters, 50 Bothwell Street was built in three phases in a ten-year period from 1891.