4 June 2014
Abstract (Glasgow) Ltd – a wholly-owned subsidiary of Mark Glatman’s Abstract Securities Ltd – has announced that the topping-out of St Vincent Plaza, Glasgow, was completed today, 4th June 2014.
The Leader of Glasgow City Council, Gordon Matheson marked the topping-out ceremony, by tightening the final bolt and adding the final shovel of concrete to complete the structure of one of the most competitive office developments in the City and in the UK, with rents at just £23 per square foot.
St Vincent Plaza is a landmark office development, located opposite the new HQ for Scottish Power and will be one of the key elements in the next phase of Glasgow’s IFSD. Set to complete in Spring 2015, it will have an end investment value of £70m and be able to accommodate around 2,600 staff.
The ceremony featured a tour of the site where the Leader of Glasgow City Council, Gordon Matheson, met construction workers, before heading to the top floor of the 11 storey, 172,280 sq ft development, to mark the topping-out of the building.
The main contractor, Bowmer & Kirkland began construction work in November 2013, and it is now week 34 of an 89 week project. The main steel frame of the 11 storey building is complete and work has begun on the external envelope and cladding to the building that will be followed by the internal framework and fit out.
Councillor Gordon Matheson, Leader of Glasgow City Council, said: “Today is a landmark day for St Vincent Plaza as we complete the structure of this development. It is also a notable day for the City as St Vincent Plaza is a visible sign of the confidence that investors have in Glasgow and our future economic health. I look forward to this outstanding building being a great success, and one which will bring many new jobs to the City and play a key role in Glasgow’s International Financial District.”
Mark Glatman, chief executive of Abstract Securities, said “Today is a milestone for the St Vincent Plaza development and for the City of Glasgow as a real destination of choice. St Vincent Plaza aims to attract big name corporates thus creating more local employment and growth for Glasgow. The building not only offers great value for money at a time when occupiers have to keep a very close eye on the bottom line, but low running costs and very efficient design mean that costs per workstation will be significantly less than our competitors while still maintaining an extremely comfortable working environment.”
The building will deliver an extremely high specification and will comprise a lower ground, ground and ten upper floors together with 78 car parking spaces. St Vincent Plaza will offer flexible, virtually column-free floorplates of 17,000 sq ft; a feature penthouse level office with terrace, and some of the best views in the City. It has been designed to a BREEAM ‘Excellent’ standard and an EPC ‘B’ rating and will provide the most efficient and environmentally friendly office accommodation in Glasgow.
As part of the development a new £1.2m landscaped public space that will link William Street to St Vincent Street will be built, improving access to the IFSD and all that City Centre has to offer. Just minutes’ walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 and to Glasgow Airport just 15 minutes away, as well as several bus routes and is within easy walking distance from Glasgow’s main retail and leisure zones.
The scheme has been designed by Glasgow-based architects Keppie Design and Bowmer & Kirkland is the main contractor. CB Richard Ellis and Ryden are jointly marketing St Vincent Plaza.
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