£30m redevelopment project in Glasgow - commercial mortgages

24 October 2006

The market for people with commercial mortgages in Glasgow could be boosted by a new office redevelopment project announced by the Premier Property group (PPG).

The firm has started initial work on the site at Bothwell Street by demolishing the existing building to make way for a new £30 million office complex, the Herald reports.

Development of the site will include the creation of 179,000 sq ft of office space with car parking facilities for over 60 vehicles.

Commenting on the project, Andrew Glasgow, director of PPG, said: "We have been planning to develop 141 Bothwell Street since acquiring the building as part of a larger portfolio five years ago and the time is now right in the cycle for the project to commence."

Earlier in the month, the city hosted the WaterfrontExpo 2006, showcasing the £5.6 billion redevelopment of the Clyde Waterfront which is expected to provide thousands of jobs, the Evening Times reports.

As part of the project, 909,000 sq metres of office, retail, industrial and leisure space is to be developed.