Press releases: January - June 2008
Clarion Call
The Herald Commercial Property 17 March 2008
Developers of the latest new office building to get under way in Glasgow could be accused of blowing their own trumpet after deciding to call the 10 storey tower Clarion.
The property, designed by 3D Reid architects, is yet to emerge, rising from the ashes of Apsley House at 29 Wellington Street, but is scheduled for completion late next year. At 75,000 sq ft, it is small enough to be in the running for a corporate headquarters, although it is more its 8000sq ft floorplates will attract a number of different tenants. Arguable, its strongest suits are location, close to railway stations in the favoured city business district, and the targeted BREEAM environmental rating of 'excellent'.
The building is one of a portfolio of office projects across the UK sold by BAM Propertiesto German real estate company IVG last year for £146m but still project managed on the forward purchaser's behalf.
Michael smart of BAM in Glasgow, whose construction arm will deliver the new offices, is a former office agent with DTZ and maintains that the Glasgow office market is still good. "We are seeing interest in buildings that are 18 months away from completion. That is a very healthy sign."
Mike Buchan, of Jones Lang LaSalle, joint letting agent along with Ryden, says: "As far as I am aware, this is the first Glasgow city centre spectacular building to seek such a high environmental rating. This market differentiator will place Clarion very well for occupier interest, which increasingly has sustainability high on the agenda."
The 'future proofing' includes efficient lighting which automatically adjusts to conditions, solar shading and advanced glazing, a heat recovery plant and extra insulation.
Euan Cameron of Ryden agrees that the property could give a company or professional services firm its own identity, and there have already been a couple of firms looking to move next year.
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