GLOBAL real estate advisor CBRE has announced the launch to market of 100 Morrison Street in Glasgow, representing a rare redevelopment opportunity in an up-and-coming area of the city.
Occupying an entire island site, 100 Morrison Street is a self-contained office building constructed in the 1970s and was comprehensibly refurbished in the mid-1990s. Extending to 0.70 acres (0.28 hectares), it comprises 137,764 sq ft across basement, ground and four upper floors, and provides 35 car parking spaces. The office floors are filled with natural light, creating airy, open plan spaces, whilst the upper floors benefit from some of the best panoramic views of Glasgow city centre and the Finnieston area to the west.
CBRE is marketing the property for sale with vacant possession on behalf of Sheral Holdings Ltd.
The property is located on the south bank of the River Clyde and is on the doorstep of Glasgow’s International Financial Services District, walking distance to Bridge Street Subway station and close to major corporate occupiers.
This area of Glasgow has become a popular location in recent years due to significant development. Drum Group’s award-winning, mixed-use Buchanan Wharf development is nearby which features the new state-of-the-art 470,000 sq ft office campus for Barclays Bank. It is also home to Legal & General’s successful Solasta Riverside Build-to-Rent development and a purpose-built 75,000 sq ft HQ office which has been pre-let to the Student Loans Company and is due for completion in Summer 2023.
Andy Cunningham, Senior Director at CBRE in Scotland, said: “100 Morrison Street offers the rare opportunity to reposition a substantial office building through redevelopment, subject to statutory consents.
“A mix of uses including office and build-to-rent residential have brought significant investment to the area, enhancing the existing landscape and improving amenities close to the property. This property represents an exciting opportunity for a developer to continue that journey. The transformation of this part of the city has been hugely successful, and the site will now play a key role in future development. We anticipate a positive response from the market now that it is available.”