Demand spurs release of latest Pacific Quay Development Land

Posted on 31 October, 2014 by Cliff Goodwin

Scottish Enterprise has rolled out its latest 10-acre commercial development plan for Glasgow’s landmark Pacific Quay.

Demand-spurs-release-of-latest-Pacific-Quays-Development-Land

Triggered by an increase in enquiries from developers and investors, the latest land release — within the 128-acre Pacific Quay site beside the River Clyde — comes with a mixed package of planning consents.

Among the in-principle permissions already in place are those for up to 318,880 sq ft of business space, 19,569 sq ft of restaurant and leisure accommodation, and 15,500 sq ft for retail use.  The Glasgow office of Savills has been appointed agents.

Located at the former Plantation Quay and Princes’ Dock Basin, part of the Pacific Quay site was used in 1988 for the Glasgow Garden Festival. The site is also one of only four strategic developments in Scotland with enterprise area status allowing it to offer reduced business rates, fast-track planning processes and international marketing for qualifying businesses.

Also within the Creative Clyde initiative — Scotland’s flagship location for media, technology and creative businesses — the quays are now the home for BBC Scotland, Capital Scotland radio and the country’s ITV headquarters. Other prestige tenants include Glasgow Science Centre and Digital Design Studio, the research and commercial department of Glasgow School of Art.

One surviving feature of the now demolished dockyard is its former “Four Winds” electric generating station and pumping house, used to pump water between the rotundas and generate power for the electric cranes. It now houses the studios of a local radio station and the offices of an engineering company.

“Activity is picking up at Pacific Quay and we are receiving an increase in interest from developers and occupiers as the economy improves, which has spurred us to launch the latest phase,” explained Savills Glasgow director of business space, David Cobban.

The latest addition to Pacific Quay is hotel operator the De Vere Group which recently announced the development of a new Village Urban Resort, expected to open next summer. “De Vere joins a growing number of major retail and leisure operators that have invested in Creative Clyde and underlines Pacific Quay’s position as one of the premier business and leisure destinations in Glasgow,” added Cobban.

He said construction of the high frequency Fastlink rapid bus transit system is now well underway, which will eventually allow access to Glasgow city centre in under six minutes. “In addition,” he said, “the development of up to 146 new homes as part of Pacific Quay is expected to transform the area into one of Glasgow’s prime destinations to both work and live.”

Allan McQuade is business infrastructure director at Scottish Enterprise. “Companies need access to high-quality business infrastructure that provides a vibrant environment for them to grow and flourish,” he said.

“This latest development phase of Pacific Quay will allow the area to benefit from further attractions by creating restaurant, leisure and retail facilities for companies, residents and visitors.”




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