Bam Construct to start a £50m Glasgow job
A £50 million funding package will see an empty building in Glasgow City Centre transformed into high quality retail and office space, creating 250 new constructing jobs and boosting the trades.
From January, construction work will get underway at 110 Queen Street – a former bank – to create 143,000 sq ft of Grade A offices and 20,000 sq ft of retail space accommodating up to 1,500 workers.
The project, which is being developed and built by BAM, will receive a £9.6 million loan from the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) Fund, which has been established with Scottish Government and European Regional Development Fund money.
The news of the development comes after a recent research report published by Ryden outlined a demand in Glasgow for new office space to enable it to compete effectively with other UK regional cities.
Speaking after making the announcement at the Queen Street site, Deputy First Minister Nicola Sturgeon said: “Significant city centre developments like today’s £50 million boost for Glasgow are central to stimulating economic growth across Scotland.
“This is absolutely imperative in these tough economic times. It is vital that we support opportunities for new business to help create new jobs and also encourage inward investment to Scotland.
“The transformation of this building, due for completion in 2015, will provide much needed high spec office space for Glasgow, which will enable it to compete more effectively with other large cities – and help to attract companies from across the globe.”
John Burke, Executive Director, BAM Construct UK, said: “This is terrific news for Glasgow and the wider construction sector, and is testament to the confidence investors have that BAM can deliver the largest office development to be built outside of London in a number of years.
“BAM is also investing £40.4m in this project which will generate spin-off economic activity, both short and long term in the construction sector and supply chain as well as a number of new apprenticeships. The team is keen to get started and will be moving on site on 7 January.
“It is our firm belief that this significant development will give Glasgow a competitive advantage by providing new quality office space, which is scarce, to established companies looking for long term growth, and help to attract inward investors to the city”.
Posted on December 14, 2012, in Building Construction Industry, Building Engineering Sector, Business, Career change, Construction, construction jobs, construction news, Electrical News, electrician, Employment, Environment, Government, Infrastructure, jobs, Scotland, t4ts, Technology, train4tradeskills, Train4TradeSkills News, UK Economy and tagged 4, BAM Construct UK, BAM construction, building, construction, Employment, Executive director, Glasgow, Investment, John Burke, new jobs, news, skills, t4ts, t4ts news, trade, trades, train, train4tradeskills news. Bookmark the permalink. Leave a comment.