Paving the way for 295,000 sq ft of state-of-the-art workshop
PROPERTY investment and development company CEG has appointed contractor Deans Civil Engineering Scotland to deliver advanced works to prepare 33 Cadogan Street for development.
Deans commenced the £1.3million contract in September, installing sheet piling around the perimeter of the site and forming the piling mat to enable the development to start when the main contractor is appointed in Q4 this year.
Paul Richardson, investment manager at CEG, said: “We have selected a local contractor, Deans, to deliver this first phase in readiness for the main contract which will deliver completion of the building in early 2025.
“A next generation building targeting the highest sustainability credentials, it will be the next new office building to be delivered in Glasgow City Centre which is currently suffering from an acute lack of Grade A office supply. We are very confident in the strength of Glasgow’s office market and are seeing a huge amount of interest in our nearby Onyx development.”
CEG will speculatively deliver the 295,000 sq ft scheme which responds to occupier’s Net Zero Carbon and sustainability requirements, as well as providing enhanced amenities and a healthy and productive place to work.
JLL and CBRE have been appointed as joint agents to market the new development on behalf of CEG.
Andy Cunningham, senior director CBRE, said: “This is a hugely exciting announcement coming at a pivotal moment in the Glasgow office market with the supply of top-quality space continuing to diminish and demand for best-in-class space remaining high.”
CEG has a track record of delivering award-winning offices in Scotland. Following the development of Aurora on Bothwell Street in 2006, the company helped to kickstart the regeneration of the area with its 178,000 sq ft new build. The successful speculative development was fully let within six months of completion. CEG has also just completed the speculative development of Globe Point offering 38,000 sq ft of new workspace in Leeds and are also on site delivering the 200,000 sq ft EQ office development in Bristol which will complete in March 2023.
The company’s Onyx development in Glasgow was recently redeveloped to deliver a new café, an extensive range of facilities for cyclists and new flexible Let Ready studios, providing fully-furnished grow-on space for smaller companies and project or satellite space for larger firms.