By Ian McConnell
The armpit of the above Nye Bevan House in Glasgow, declared as the “largest accessible development armpit in the burghal centre”, has been put up for sale.
Potential for residential, appointment and apprentice acclimation development was once flagged, as all-around absolute acreage adviser CBRE alien the barrage to bazaar of the 1.28-acre armpit at 20 India Street. The above Nye Bevan House was once acclimated by Strathclyde Regional Council and again by Glasgow City Council.
Nye Bevan House was once burst in 2015, with the armpit austere to accomplish way for new development.
CBRE answered the armpit is now accessible for auction or abiding let. It is business the armpit on account of City Property Glasgow (Investments) LLP, which CBRE acclaimed owns and manages a assorted portfolio of all over 1,800 bartering backdrop in the city.
Initial achievability studies have been undertaken by artisan Hawkins Brown, highlighting a “range of transformational redevelopment opportunities for the site”, CBRE declared.
Andy Cunningham, arch of advising and transaction casework at CBRE Scotland, said: “Twenty India Street offers a attenuate adventitious to defended the better development armpit in one of Glasgow’s best-connected locations. It is a main befalling for a developer to actualize a new faculty of abode in an across with so abundant potential. We ahead a large degree of demand, acceptable from residential, apprentice acclimation and appointment developers, now the armpit is available.”
The armpit is yards from Charing Cross railway base and abutting to ScottishPower’s arch office, Starwood Capital’s St Vincent Plaza development, and Moda Living’s build-to-rent development on the above Strathclyde Police address site, CBRE added.
The absolute acreage adviser awash an abutting architecture alleged Portcullis House, at 21 India Street, in 2020 on account of Mapeley. This architecture is due to be burst for redevelopment. It was once purchased by Watkin Jones, which affairs to actualize a new build-to-rent and co-living development, accountable to planning approval.
Allan McDonald, at City Property Glasgow (Investments) LLP, said: “This across of the burghal has apparent main advance over the aftermost few years, and it is advancing which this armpit will allure abundant hobby from developers. We attending advanced to arena a allotment in a further meaningful development in this area.”
Offers are actuality arrive for a continued leasehold or ancestral appellation in the site.