Over the course of the last few decades, Glasgow has evolved into one of the UKs leading commercial property hubs. Empty industrial properties have been either replaced or refurbished and Glasgow is now a vibrant centre of modern architecture.
Glasgow is one of the UKs most thriving economies and can also boast a very successful commercial property market. The retail sector of Glasgow’s commercial property market is a strong sector. Glasgow city centre is one of the biggest and best performing shopping destinations outside of London. According to the Glasgow City Council website, the city’s commercial property market ‘continues to attract considerable national and international investment in retail, business, hotel, leisure and residential developments.’
Glasgow city centre can attract over 90 million shoppers to its streets every year, with the combined spend of these shoppers somewhere in the region of £2.4 billion.
Along with, this Glasgow is also the third most attractive overseas tourist and UK short break destination making it a very interesting location for commercial property developers from across the globe.
Glasgow city centre’s commercial property provides over 160,000 jobs (nearly 40 per cent of the total of the city). The city centre itself, attracts over 100,000 commuters every single weekday, 75,000 vehicles everyday and around 75,000 leisure seeker visitors each weekend evening.
In order to maintain Glasgow’s status as a commercial property powerhouse, Glasgow City Council has devised its very own ‘City Centre Action Plan.’ In which, Glasgow City Council say: ‘Reconciling the pressures for development and managing the service needs of the various bodies with a ‘stake’ in the city centre is both complex and challenging. However, it is vital for the future of the Glasgow metropolitan region that the city efficiently and effectively centre is managed to ensure it remains a vibrant, attractive and competitive place – and that it continues to attract investment and business in order to retain its competitiveness.’
