Buccleuch Property has received planning permission to redevelop Intercity House in the financial district of Glasgow, Scotland.
It was given the go-ahead by Glasgow City Council to today to redevelop the city centre building at 80 Oswald Street into a nine-story 71,000 sq ft office and retail scheme called Evolution.
Buccleuch Property plans to invest around £25m into the redevelopment which will begin in January next year. The building, next to Glasgow Central Railway Station and the five star Radisson Hotel, will provide floor plates of around 8,600 sq ft.
Sandy Smith, development director at Buccleuch Property, said: ‘Evolution will be one of the biggest speculatively built office developments to start in Glasgow next year…We are considering various funding routes and wouldn’t rule out the possibility of a joint venture partnership. Many projects we’re involved with incorporate some element of JV which allows both parties to bring various levels of expertise and finance to a project.’