Scottish developer Duddingston House Properties (DHP) has won planning consent for a £100m mixed-use scheme on the former Odeon Cinema in Glasgow.
The Edinburgh-based company plans a scheme with 150,000 sq ft of offices and 40,000 sq ft of restaurant and leisure space
The Paramount scheme, at Renfield Street in Glasgow’s city centre, will keep the art deco façade of the old cinema combined with new restaurants and the new office scheme behind it.
It is hoped the development will regenerate the area and establish it as a new business growth district for the city.
Charles Martin, commercial director of DHP, said the company had worked closely with Glasgow City Council and Historic Scotland over the past 18 months to find a mutually acceptable solution.
Work on the scheme, designed by Murray Dunlop Architects, is expected to begin in Spring 2008.
A recent report by Ryden said Glasgow’s office market was performing well with 560,000 sq ft of take-up by occupiers in the past six months.
A limited supply of office space is putting upward pressure on rents in the city and leading to strong pre-letting activity.