Green light for BAM Construct on 144€m Glasgow mixed-use development
The 300,000 sq ft Atlantic Square scheme has been given the go-ahead.
BAM Construct UK is set to commence construction on a major new mixed-use development in Glasgow after council planners give the 144€m Atlantic Square development the green light.
The 300,000 sq ft scheme, a Bam Properties-Taylor Clark Properties joint venture, will comprise three new buildings: two six storey and one 10-storey block, providing a mix of new commercial, residential and retail space in the heart of the city’s financial district.
Jon Brand, managing director, Taylor Clark Properties, said: “A lack of Grade A space is limiting investment in the city and with rents stabilising we believe the time is right to combine our expertise to deliver this striking mixed-use development.”
Michael Smart, development director, BAM Properties, said: "This is a strategic alliance between Taylor Clark which owns the site and BAM as a developer and contractor with a substantial track record in bringing attractive sustainable developments to the market.
“We have carefully researched the supply pipeline and have identified a strong undercurrent of demand from top grade companies and organisations. Together, we will create a state-of-the art development that will meet the requirements of forward thinking business tenants and investors.”
The Cooper Cromar designed development will include the retained façade of the listed warehouse buildings on the site that were built in the early twentieth century.
The value of the construction contract is estimated to be around 101€m, while the value of the completed development is expected to exceed to 144€m. The project is expected to create 2,750 new jobs.