The real estate market in Glasgow is witnessing a lot of activity in recent months, with new developments beginning to come up once more after a slow period during the recession. The latest venture of this kind is the regeneration project in an unused plot here.

The development is being undertaken by Dawn Group along with the Glasgow City Council. The joint effort will be a trendsetter in this field, it is believed. Speaking about the project, the Glasgow City Council president remarked that such projects would give a boost to Glasgow’s image as a prime business location. He hoped that interest in real estate here would continue to grow following such developments.

The project will involve the construction of a shared office complex in the 1.1 million square feet area lying unused next to High Street rail station. The plot has not been used for the last 40 years. The offices that will come up here will be occupied by council employees. The project, which is expected to cost around £200m, will be completed by 2011. Formalities like authorisations and permits have already been obtained by the developers.

The development includes the construction of 102,000 sq ft of offices for the Glasgow City Council along with a multi-storey car park and 250 student accommodations. These will be the initial constructions in the 1.1 million square feet area that is to be developed.

Steven Purcell, president of the Glasgow City Council, remarked that this project would further enhance the prospects for Glasgow real estate markets. This project, which is being called Collegelands project, will also include the construction of meeting rooms, restaurant and hotel to make it a complete business hub.

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