HFD Group's new office development at 177 Bothwell Street
will have a cumulative impact of more than £2.8 billion gross value
added (GVA) across Scotland over 25 years, according to an
independent economic report. Located in the heart of Glasgow's
IFSD, the development will contribute £1.8 billion to the city's
economy alone.
Once fully occupied, 177 Bothwell Street is expected to
account for around £205 million GVA annually, based on average
salaries. Construction work is estimated to have a one-off GVA
contribution of £51 million, generating more than 800
person-year-equivalent jobs in construction. The new building will
cater for a workforce of around 3,500.
Featuring a rooftop terrace and running track, 318 cycle
spaces, electric vehicle charging points, and circadian lighting,
the building is already 75% let. Virgin Money has signed a
long-term lease, while HFD Group's serviced office business - Opus
- will take more than 65,000 sq. ft. across three
floors.
Providing around 313,000 sq. ft. Grade A space, 177
Bothwell Street will become Glasgow's largest single office
building when completed in Q2 2021. It is the final phase of
HFD's Bothwell Exchange development, following the delivery of
122 Waterloo Street for Morgan Stanley.