ScottishPower has unveiled plans for the construction of a new headquarters in Glasgow which will mark one of the most iconic projects in the city in the past 25 years.
The energy giant's home will be the biggest single occupier office block since 1987 and will stretch over 14 storeys having the capacity to accommodate 1,500 of the company's staff. A number of employees will be moved from their current posts in its branches in Cathcart, Yoker and Falkirk to the new office block once it is completed in 2015. Officials have said that the 220,000 sq ft development will be situated on St Vincent Street after approval was granted by the company's board of directors.
ScottishPower stated that work is due to start next year, with Helical Bar along with development partner Dawn Developments being named as the preferred candidates to take over the operation. The companies have a history of undertaking projects across Scotland with the latter currently involved in building a four-acre office block on Helen Street in Govan, Glasgow. Dawn is also owner of Glasgow North Retail Park which it acquired in 2006 and currently has a valuation of £20 million attached.
Ignacio Galan, ScottishPower chairman, said: "Our plans in the UK in the coming years require an office complex that is fit for purpose to deliver and manage these investments.
"This new development will ensure Glasgow remains home to ScottishPower's UK headquarters for the long term and will be a hub for delivering the £10 billion of planned investment over the coming years."
As part of the agreement ScottishPower stated that Helical Bar will take over the company's premises in Cathcart, Yoker and Falkirk which will in turn look for opportunities to redevelop these locations once the energy firm has began operating from the Glasgow premises. This latest move will allow ScottishPower to strengthen its presence within the market and have all of its staff in one main hub in the heart of Scotland's second city.
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