UK banking group Barclays has announced plans for the development of a 470,000 ft2 (44,000 m2) campus at Buchanan Wharf in Glasgow as a new base for its functions, technology and operations units.
Scottish developer Drum Property Group said it had reached a multi-million pound deal with Barclays to deliver the asset. Both companies will work together on the redesign.
Barclays also have an option to extend their campus by an additional 210,000 ft2 (19,500 m2), in a second development phase at the site.
‘Our development will be one of Scotland’s largest single-site construction projects, bringing together over a million ft2 of prime Grade A office space with residential accommodation, and an exciting mix of amenities and landscaped public spaces,’ said Graeme Bone, Drum’s managing director.
Barclays said it had struck an agreement with Scottish Enterprise for a funding grant of £12.75 mln (€14.3 mln).
‘This development on the banks of the Clyde at Tradeston will see a huge amount of Grade A office space, new homes and new jobs coming to the city centre,’ commented David McDonald, deputy leader of Glasgow City Council.
Barclays said that, once completed, the building would host up to 2,500 additional workers, almost doubling its workforce in Scotland.
Construction is expected to begin by the end of the year, pending the appropriate planning consents.