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City centre investment for Glasgow

Monday March 11th, 2019

The Scottish Partnership for Regeneration in Urban Centres Fund is committing £12 million from the Building Scotland Fund for the renovation of 55 Douglas Street, previously known as the Cerium Building, in Glasgow.Glasgow_University_3810802XSml

The money will be used to redevelop the site delivering 85,000 square feet of new Grade A office space over six levels.

This renovation, due for completion in November 2019, will address a shortage of Grade A office accommodation available in Glasgow city centre.

The project, which is being delivered by Signal Capital, will receive a £12 million loan from the fund operated by the Scottish Partnership for Regeneration in Urban Centres (SPRUCE).

Communities Secretary Aileen Campbell said:

“This investment is a great example of what we can do through the SPRUCE fund, using finance from the Building Scotland Fund. This loan will help support opportunities for new business to create new jobs, encourage more inward investment and lead to economic growth.

The transformation of this building will provide much needed high spec office space in the centre of Glasgow. This will further enhance the city’s reputation as a place where companies from across the globe will choose to locate and do business, providing jobs for local people.”

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