Refurbishment begins at Glasgow office scheme

Redevco commences on the first phase of the refit of George House

Article posted: 03 Oct 2011

International real estate company Redevco has begun the refurbishment of 90,000 sq ft of office space in Glasgow at George House in George Square. The first phase of the refit, which will deliver 50,000 sq ft of accommodation to market, will complete next February with the remainder completed by June 2012.

The refurbishment of the 1970s office building (pictured) will include raised access floors, improved common areas, the replacement of the lift system and a new feature entrance to complement the interior.

Redevco aims to provide a CAT ‘A’ office usage and be energy efficient with a B rating at EPC being targeted with the refurbishment. Redevco is also aiming for a BREEAM ‘Excellent’ standard.

Interserve has been appointed on a £6.5m contract for the scheme.

David Smith, investment director, of Redevco says “With little or no development activity currently under way, particularly in the prime central core, we believe that we will be bringing the new space to the market at a time when there will be limited competition.”

DTZ has been appointed as letting agent.

Meanwhile, it was reported last week that Redevco has sold its long leasehold interest in office space in the West End of London at 1- 4 Connaught Place, W2, to LaSalle Investment Management for around £22.5m.

The office-led scheme comprising seven floors of office space is fully let to six tenants. Ten residential units within the building were all sold throughout 2009/10.

For breaking news relating to office space in Scotland follow us on http://twitter.com/officespacenews

Posted by Julie