Business: The Quay to prosperity.
THE way forward for a Scottish city's economic success lies along its riverbank.
Glasgow's River Clyde was the foundation of the city's wealth from trade and shipbuilding.
Now the waterfront is seeing a regeneration which will transform the city.
Within the last week, three key developments have taken place.
And they are laying the foundations of a thriving commercial centre where recently there were only empty warehouses, derelict sites and run- down buildings.
The biggest of these is the long awaited Finnieston Bridge over the River Clyde which has finally been given the green light by Glasgow City Council's planning committee.
The decision will provide a huge boost to Pacific Quay.
The bridge plan, which now goes to the Scottish Executive for final ratification, was fundamental in securing the BBC's continued presence in the city through relocation to Pacific Quay. The move will also further enhance the profile of Pacific Quay, attracting new occupiers to the 60- acre business park.
Pacific Quay Developments, a venture between Miller Developments, Grosvenor and CTP, aims to create a 370,000 square feet waterfront business park on the site which already has two tenanted buildings and planning permission for another 60,000 square feet building.
Alan Somerville of Pacific Quay Developments, said: "The benefits to Glasgow will be enormous."
Across the river, Akeler, the international office and business park developer, has signed a second tenant for 2 Central Quay - one of the UK's first city centre business parks - leaving only two floors now available.
NHS Education for Scotland provides postgraduate training and continual professional development for doctors, dentists, nurses, clinical psychologists and pharmacists.
They have taken a 15-year lease for the 19,700 square feet third floor of 2 Central Quay, close to Glasgow city centre. Rental terms are about pounds 17 per square foot.
The deal comes shortly after the recent letting of the second floor of the speculatively- built four-storey building to GE Energy Services.
NEARBY, the Hilton Group has let 25,000 square feet at 3 Atlantic Quay to Land Securities Trillium.
The Grade A office space extends across two floors and will be occupied by way of a FRI sub-lease expiring in 2016, at pounds 20.50 per sq ft.
Mark Dornan, senior surveyor with letting agents Jones Lang LaSalle, said: "Land Securities Trillium decided on the Atlantic Quay site given its ability to provide high-quality, Grade A accommodation over large 12,000 square feet floorplates.
"We are now confident the remaining 11,500 square feet on the ground floor will soon be occupied."
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|Publication:||Daily Record (Glasgow, Scotland)|
|Date:||Nov 18, 2002|
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