Scottish Enterprise bolsters Broomielaw landholding
The move sees Scottish Enterprise making a strategic decision to build upon the existing success of the International Financial Services District, which has attracted over one billion pounds of investment in the past seven and a half years, making it one of the largest economic development projects in the UK.
The land, which has planning consent for office development, is currently lying vacant and could now be used to support developments either in business tourism or the financial services industry.
Commenting on the deal, Stephen Gallagher, Managing Director, Commercial at Scottish Enterprise, said: "The acquisition of this site will complement Scottish Enterprise's existing land-holding at 236 Broomielaw and allow us greater flexibility in our offering to development partners.
"The site is situated at a prime location on Glasgow's Broomielaw, close to several major transport routes, and we are expecting significant interest from potential development partners.
"The site has a tremendous waterfront location and provides an excellent platform for inward investment deals. The acquisition will also allow Scottish Development International to strengthen the Scottish offering to potential inward investors."
Scottish Enterprise's existing landholding at 236 Broomielaw has already been earmarked for hotel and office use, and the organisation is currently in discussions with several potential development partners for the site.
Scottish Enterprise is also an investment partner in the Clyde Waterfront initiative, which aims to transform the riverfront area into a business and recreational site of international importance.
Scottish Enterprise is involved in the development of the Queen's Dock second phase of the Scottish Exhibition and Conference Centre (SECC), which will expand the SECC business to include a 12,500 seat National Arena for Scotland. This is part of a strategic plan to grow business tourism in Scotland and help stimulate economic growth.