According to Savills, the amount of existing Grade A office space available in Glasgow city centre is the lowest seen since 2008 with just 250,000 sq ft (23,225 sq m) remaining. The shortage is against a backdrop of strong levels of demand with annual take-up since 2013 in excess of the 10-year average (500,000 sq ft (46,450 sq m)). Furthermore, the supply/demand imbalance in the city centre is filtering out to the edge of town / peripheral locations and Savills reports take-up in 2014 (381,151 sq ft (35,408 sq m)) to be 40% higher than the five year average.

In response the firm, on behalf of Scottish Enterprise, is seeking to unlock the next generation of commercial development at Glasgow's Pacific Quay, with one site available for business space use offered for sale subject to development proposal.

Available as a whole at a guide price of £3,000,000 or in lots, the site extends to 7.4 acres (3 hectares) with masterplanning for over 200,000 sq ft (20,066 sq m) of commercial space.

David Cobban, director of business space in Savills Scotland, comments: "Pacific Quay is becoming an evermore established destination for business, leisure and residential use and building on this, we are confident that now is the right time to launch the next site for commercial development. It is a fantastic opportunity for developers to take advantage of the impending shortage of well located, Grade A office space in Glasgow.

"Unlike other edge of town commercial locations, Pacific Quay is unique in that, with three underground stations and construction of Fastlink well underway, it can offer access to Glasgow city centre in under six minutes."

Also on Pacific Quay, Savills is marketing sites for retail and leisure use and an opportunity for residential development. With masterplanning for 15,500 sq ft (1,440 sq m) of retail space, a 1.18 acre (0.5 hectare) site is offered at a guide price of £650,000. The residential development plot extends to circa 7 acres (2.8 hectares) with planning consent for up to 204 residential properties and is offered at a guide price of £4.5 million.

Proposals for development must be submitted by the beginning of May 2015.

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