177 Bothwell St to contribute £2.8 billion to Scottish economy

17 Feb 2020

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.