Key development site
Property investment and development company CEG has managed the acquisition of 33 Cadogan Street in the heart of the central business district of Glasgow
With full planning permission in place for a 275,000 sq ft development, the site has already been cleared and readied for construction, and CEG has appointed a design team to enhance the sustainability credentials of the new development. Glasgow based, Cooper Cromar, has been retained as architect for the scheme having successfully delivered CEG’s award-winning Number One Kirkstall Forge in Leeds.
CBRE advised CEG on the acquisition of 33 Cadogan Street, Knight Frank and JLL represented M&G on the sale, and JLL and CBRE have been appointed as joint agents to market the new development on behalf of CEG.
Commenting on the deal, Tom Gaynor, Head of Investment at CEG, said: “We are confident in the strength of Glasgow’s office market. The city is under supplied in terms of Grade A workspace and there is a very restricted pipeline of consented and funded schemes…
“Designed as a UK best-in class building, The Grid responds to occupiers Net Zero Carbon and sustainability requirements as well as providing enhanced amenities and a workspace environment that occupiers are seeking for their employees. The scheme is fully funded and we are committed to a pathway to commence construction on site as soon as possible.”