Glasgow Lacks Grade A Office Space
The Scotsman has reported that the lack of investment and development of office supply in Glasgow has led to Scottish Enterprise looking for ways to increase the diminishing availability of Grade A space.
Concerns over retaining and enticing larger companies for the long term have arisen where, according to Colliers International, the amount of available premium office space is at a 3 year low with this expected to further decline in 2012.
A spokesperson from the Scottish Enterpise told the newspaper that ΓÇ£it is critical that Scotland sustains a strong and competitive business environment to attract investment and encourage growth in our economy. We recognise that the current financial climate poses some issues, in particular for the provision of speculative Grade A office space in our cities, and so are undertaking some research to assess the scale of the issue and ascertain whether there are ways in which Scottish Enterprise can, if needed, provide support.ΓÇ¥
The BBC has reported on one such development, provisionally named St Vincent Plaza, which will help to ease the lack of new office space. Providing 170,000sq ft of Grade A office space, this multi-million pound development due for completion late 2013 has been described as ΓÇ£the most efficient and environmentally friendly office accommodation in the cityΓÇ¥ and that it ΓÇ£will be delivered into a market where available Grade A supply has all but disappeared.”
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