Akeler submits proposals for next phase of Central Quay

27 Nov 2006

Akeler has submitted planning applications for the next phase of its Central Quay development in Glasgow.

The proposals include detailed plans for two new office buildings of 128,000 sq ft and 92,000 sq ft net lettable - 220,000 sq ft in total - together with outline plans for a new 4/5-star hotel.  Total spend on the new developments, the third phase of Central Quay, is estimated at between £80-90 million.

Initial interest has already been received in one of the two planned office buildings, and in the hotel opportunity.  Assuming consent is granted, Akeler anticipates work starting on site in April 2007 with practical completion of the two office buildings anticipated by late 2008.  Akeler is progressing the search for a hotel development partner with immediate effect.

The new phase will see Central Quay offering a total of 400,000 sq ft of Grade A office space.  Occupiers include Trinity Mirror, GE Capital, NHS Scotland - National Education Services, and ACCA.   

Central Quay is based on the north bank of the River Clyde, adjacent to Glasgow city centre and alongside the main approach from the M8 motorway into the city centre. It forms part of Glasgow's International Financial Services District and is a key project within the wider Clyde Waterfront regeneration initiative. The site will be served by the planned Clyde Fastlink public transport service.

Patrick Going, Executive Director, Akeler said: "The Glasgow office market is healthy and there is strong occupier demand for new office space which Central Quay will tap into. The hotel site is a response to strong interest from hotel operators in the city, and will strengthen the City's business and visitor infrastructure, as well as adding to the facilities available to occupiers at Central Quay.

"The new phase will offer more competitively priced accommodation than the prime city centre core and will have considerably more generous parking provision."

Agents for Central Quay are DTZ in Glasgow.


Notes to Editors:

About Akeler:
Akeler is an international office and business park developer and investor which has worked with many of the world's leading companies.   Its award-winning offices and business park projects are designed to provide highly flexible, sustainable and environmentally sensitive accommodation in both urban and out of town locations across the UK and Europe. 

A high proportion of Akeler's developments are build to suit schemes on behalf of existing customers to create bespoke premises, tailored to specific needs.   It also has a track record of delivering successful private / public sector partnerships across the UK, forming long-term relationships to design and build Grade A commercial premises and drive regional economic growth.

Akeler's developments include:

Central Park, Manchester       
Rainton Bridge, Sunderland
Doxford International Business Park, Sunderland
Reading International Business Park, Reading, Berkshire
Central Quay, Glasgow
Colton Square, Leicester
Hammersmith Embankment, West London
Air Park de Paris, France
Quinta da Fonte, Lisbon, Portugal
Hamilton International Park, Hamilton
One Thames Valley, Bracknell, Berkshire
Marlow International, Buckinghamshire

Akeler media contact:
Graeme Buck / Emily Luscombe, Camargue
Phone: 020 7636 7366

  • The Daily Record Building at Central Quay