PRIME CITY CENTRE EXCEPTIONAL DEVELOPMENT OPPORTUNITY
PRIME CITY CENTRE EXCEPTIONAL DEVELOPMENT OPPORTUNITY
PITT STREET, GLASGOW G2 4JS
An exceptional opportunity for the redevelopment of this major city centre site which is suitable for a variety of alternative uses, subject to planning.
PLANNING The site lies within the Principal Office Area as designated in the adopted City Plan 2, and as part of a Strategic Economic Investment Location in the emerging local development plan (LDP). Redevelopment for office use would be supported in principle. Complementary city centre uses such as hotel, student accommodation, other residential (for sale/rent) and supporting commercial uses (such as retail, food/drink) are also likely to be supported by the city council. A mix of uses is likely to be acceptable. Development would need to meet current technical planning standards (e.g. parking, open space) and would need to fully
address placemaking and design policies and objectives. City Plan 2 development guide DG/DES5 would apply in this respect, as would Policy CDP1 (and associated Supplementary Guidance) in the emerging LDP. The city council will require proposals to fully address the site context, including the relationship to the nearby conservation area and listed buildings, the surrounding building datum and typology, and streetscape. A detailed planning note is to be issued to provide further guidance to bidders and can be downloaded from the Data Room.
LOCATION The site lies on the western periphery of the city centre, a short distance from the M8 motorway. The surrounding area contains a mix of uses including office, hotel, leisure and residential properties.
REE T
WE LL
T STREE 2
Ibis Hotel
3
Novotel
4
Blythswood House
5
Dakota Hotel
6
Malmaison
7
Blythswood Square
8
Blythswood Square Hotel
9
Aurora Building
10
Central Station
11
Bothwell Exchange
12
Marriot Hotel
13
Hilton Glasgow
14
St Vincent Plaza
15
Santander
16
Scottish Power HQ
17
Charing Cross Station
18
Premier Inn
19
NCP
20
King’s Theatre
2 1
BATH
173 Pitt Street
EET
1
11
STR
PITT STREET
EET
6
TH BO
5
STR
WEST REGENT STREET
SAU
CHI EHA L
L ST
7
ENT
3
9
INC
SAT NAV G2 4JS
8
ST V
4
10
T RGE STREE WEST GEO
The site is bounded by Pitt Street, West Regent Street, West George Street and Holland Street. Charing Cross low level railway station is within 5 minutes’ walk and a number of bus routes are in close proximity.
15
12 13
HOLLAND STREET 14
16 20
19
J19
18
M8 17
CLYDE STREET
BROOMIELAW
RIVER CLYDE
DESCRIPTION The property comprises two adjoining interlinked office buildings providing accommodation which is mainly cellular in nature and is arranged in a doughnut configuration around a landscaped open courtyard. There are two main pedestrian entrances on Pitt Street and Holland Street.
We understand that the Gross Internal Area of the building is approximately 17,442 sq m (187,746 sq ft) excluding the garage and out buildings. The total site area is 1.371 acres (0.55 ha). The buildings benefit from 148 car parking spaces located on the ground and underground levels. In addition there is a loading bay which is accessible from West Regent Street.
SITE PLAN
SCHEDULE OF AREAS
TYPICAL FLOOR PLATE
PITT S
TREET
HOLL A
ND S TREE
T
Floor areas are indicative and are not warranted. Interested parties will require to satisfy themselves in respect of measurement and calculation of floor areas. Floor
Sq M
Sq Ft
0
865
9,311
1
903
9,720
2
4,931
53,077
3
3,457
37,211
4
3,294
35,457
5
2,821
30,365
6
1,171
12,605
Total (GIA)
17,442
187,746
EPC The property has an EPC rating of E.
RATEABLE VALUE The property has a Rateable Value of £1,400,000.
LEGAL COSTS Each party will be responsible for their own legal costs and the purchaser will be responsible for the payment of any Land and Building Transaction Tax and Recording Dues incurred in the transaction.
PITT STREET, GLASGOW G2 4JS
VAT
DATA ROOM
Any intending purchaser will require to satisfy themselves as to the incidence of VAT in respect of any transaction
Interested parties can request access to a dedicated electronic Data Room, via Ryden, containing copies of floor plans, planning information and technical information, which will assist parties in formulating their proposal for the property and should reduce the conditionality of bid submissions.
DATE OF ENTRY On vacant possession of the property, with the date to be confirmed and agreed between the parties.
CLOSING DATE & BID PROCESS
VETTING Prior to entering into any legal agreement for the sale of the subjects pursuant to any offer received in response to this marketing exercise, in order to comply with Anti Money Laundering Regulations and in fulfilment of the policing principles, bidders will be subject to vetting. Further information on the vetting procedure is available in the Guidance for Bidders document which can be downloaded from the Data Room.
The bid process is set out within the Guidance for Bidders document which can be downloaded from the Data Room or by request at email [email protected]. Interested parties should also register their interest in the property at [email protected] The Scottish Police Authority is seeking best bids for its outright ownership in this development opportunity and will consider both conditional and unconditional offers.
173PITTSTREET.COM VIEWING & FURTHER INFORMATION Viewings will be arranged on a regular basis. Access will be by way of prior arrangement. To be advised of viewing dates email [email protected]
Mandy Watson 0141 270 3159
Roy Alexander 0141 270 3124
July 2015 Messrs Ryden LLP for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden LLP has any authority to make or give any representation or warranty whatever in relation to this property.
PITT STREET, GLASGOW G2 4JS
An exceptional opportunity for the redevelopment of this major city centre site which is suitable for a variety of alternative uses, subject to planning.
PLANNING The site lies within the Principal Office Area as designated in the adopted City Plan 2, and as part of a Strategic Economic Investment Location in the emerging local development plan (LDP). Redevelopment for office use would be supported in principle. Complementary city centre uses such as hotel, student accommodation, other residential (for sale/rent) and supporting commercial uses (such as retail, food/drink) are also likely to be supported by the city council. A mix of uses is likely to be acceptable. Development would need to meet current technical planning standards (e.g. parking, open space) and would need to fully
address placemaking and design policies and objectives. City Plan 2 development guide DG/DES5 would apply in this respect, as would Policy CDP1 (and associated Supplementary Guidance) in the emerging LDP. The city council will require proposals to fully address the site context, including the relationship to the nearby conservation area and listed buildings, the surrounding building datum and typology, and streetscape. A detailed planning note is to be issued to provide further guidance to bidders and can be downloaded from the Data Room.
LOCATION The site lies on the western periphery of the city centre, a short distance from the M8 motorway. The surrounding area contains a mix of uses including office, hotel, leisure and residential properties.
REE T
WE LL
T STREE 2
Ibis Hotel
3
Novotel
4
Blythswood House
5
Dakota Hotel
6
Malmaison
7
Blythswood Square
8
Blythswood Square Hotel
9
Aurora Building
10
Central Station
11
Bothwell Exchange
12
Marriot Hotel
13
Hilton Glasgow
14
St Vincent Plaza
15
Santander
16
Scottish Power HQ
17
Charing Cross Station
18
Premier Inn
19
NCP
20
King’s Theatre
2 1
BATH
173 Pitt Street
EET
1
11
STR
PITT STREET
EET
6
TH BO
5
STR
WEST REGENT STREET
SAU
CHI EHA L
L ST
7
ENT
3
9
INC
SAT NAV G2 4JS
8
ST V
4
10
T RGE STREE WEST GEO
The site is bounded by Pitt Street, West Regent Street, West George Street and Holland Street. Charing Cross low level railway station is within 5 minutes’ walk and a number of bus routes are in close proximity.
15
12 13
HOLLAND STREET 14
16 20
19
J19
18
M8 17
CLYDE STREET
BROOMIELAW
RIVER CLYDE
DESCRIPTION The property comprises two adjoining interlinked office buildings providing accommodation which is mainly cellular in nature and is arranged in a doughnut configuration around a landscaped open courtyard. There are two main pedestrian entrances on Pitt Street and Holland Street.
We understand that the Gross Internal Area of the building is approximately 17,442 sq m (187,746 sq ft) excluding the garage and out buildings. The total site area is 1.371 acres (0.55 ha). The buildings benefit from 148 car parking spaces located on the ground and underground levels. In addition there is a loading bay which is accessible from West Regent Street.
SITE PLAN
SCHEDULE OF AREAS
TYPICAL FLOOR PLATE
PITT S
TREET
HOLL A
ND S TREE
T
Floor areas are indicative and are not warranted. Interested parties will require to satisfy themselves in respect of measurement and calculation of floor areas. Floor
Sq M
Sq Ft
0
865
9,311
1
903
9,720
2
4,931
53,077
3
3,457
37,211
4
3,294
35,457
5
2,821
30,365
6
1,171
12,605
Total (GIA)
17,442
187,746
EPC The property has an EPC rating of E.
RATEABLE VALUE The property has a Rateable Value of £1,400,000.
LEGAL COSTS Each party will be responsible for their own legal costs and the purchaser will be responsible for the payment of any Land and Building Transaction Tax and Recording Dues incurred in the transaction.
PITT STREET, GLASGOW G2 4JS
VAT
DATA ROOM
Any intending purchaser will require to satisfy themselves as to the incidence of VAT in respect of any transaction
Interested parties can request access to a dedicated electronic Data Room, via Ryden, containing copies of floor plans, planning information and technical information, which will assist parties in formulating their proposal for the property and should reduce the conditionality of bid submissions.
DATE OF ENTRY On vacant possession of the property, with the date to be confirmed and agreed between the parties.
CLOSING DATE & BID PROCESS
VETTING Prior to entering into any legal agreement for the sale of the subjects pursuant to any offer received in response to this marketing exercise, in order to comply with Anti Money Laundering Regulations and in fulfilment of the policing principles, bidders will be subject to vetting. Further information on the vetting procedure is available in the Guidance for Bidders document which can be downloaded from the Data Room.
The bid process is set out within the Guidance for Bidders document which can be downloaded from the Data Room or by request at email [email protected]. Interested parties should also register their interest in the property at [email protected] The Scottish Police Authority is seeking best bids for its outright ownership in this development opportunity and will consider both conditional and unconditional offers.
173PITTSTREET.COM VIEWING & FURTHER INFORMATION Viewings will be arranged on a regular basis. Access will be by way of prior arrangement. To be advised of viewing dates email [email protected]
Mandy Watson 0141 270 3159
Roy Alexander 0141 270 3124
July 2015 Messrs Ryden LLP for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden LLP has any authority to make or give any representation or warranty whatever in relation to this property.
