Glasgow’s wider market take-up has been steadily increasing since 2011, but as new developments on the city centre periphery and outskirts are being developed, the city centre boundaries are being redefined.

As Glasgow’s popularity increases, office supply continues to fall, forcing occupiers to look beyond the original city centre boundaries in order to find appropriate space. Barclays’s decision to develop its new headquarters at Buchanan Wharf, purchasing 470,000 sq ft of space at the mixed use Clydeside site, will be key in rejuvenating a previously run down part of Glasgow’s  periphery, ensuring its place within the city centre boundaries.

Buchanan Wharf, which sits on the south bank of the River Clyde, is only a 10-minute walk from Glasgow Central station, has easy pedestrian access across the river, multiple bus stops and M8 motorway access that means the airport is within 15 minutes. The site is set to be crucial in Glasgow’s city centre extension, as it breathes new life into a previously neglected area.

The Buchanan Wharf mixed-use scheme will provide over 1 million sq ft of Grade A office space, residential accommodation, a hotel, amenities and public spaces. It’s believed that such a large development in this part of Glasgow will attract further investment to the Clydeside area and there are many opportunities including a number of old and unused industrial units, which could be redeveloped into functional residential and commercial space.

The City Council’s latest Development Plan Policy and Proposal Map identifies the south bank of the Clyde as a city centre location. This is contrary to previous versions that have identified Glasgow city centre as ending at the north bank of the Clyde, cementing this area of as now part of the centre.

Barclays’ commitment to Buchanan Wharf is a shot in the arm for Glasgow that also further increases confidence in the city’s offices market. Improving sentiment, and the removal of a significant development opportunity from the market, could trigger other developers who have been sitting on projects to put a spade in the ground in 2019. 

Further information

Read more: Spotlight: Scottish Office Market