JLL has brought 0.25 acres at Dixon Street in the heart of Glasgow city centre to market. The site occupies a prominent corner position at the end of Buchanan Street, fronting onto the River Clyde by St Enoch subway station.
Dixon Street is a two-minute walk away from Buchanan Street – the premier retail and leisure destination in the city – and boasts views over the river. The St Enoch Subway Station and Glasgow Central train station are also nearby, providing easy access to transport links within the city and across Scotland.
The site benefits from an existing consent for or a 204-bed hotel comprising 153,547 square feet of development (GIA) across 22 storeys.
The opportunity is suitable for alternative uses and could be redesigned to suit proposals for purpose built student accommodation, co-Living or residential use.
The launch comes as the city’s residential market continues to perform strongly.
Glasgow’s residential market is one of the best performing in the UK, according to JLL’s recent ‘Big Six’ research, which tracks residential development activity, prices and rents across Glasgow, Edinburgh, Bristol, Birmingham, Manchester and Leeds. Sales prices rose by 5.6% year-on-year in the city – the highest in the UK – while rental prices also grew by 14.6%.
Makela Milne, residential and development land director at JLL, says: “Glasgow’s residential market has performed strongly over the last 24 months and we expect this to continue. The site has an attractive outlook over the River Clyde and benefits from quick access to all of Glasgow’s city centre and West End amenity, making it an attractive proposition for developers and investors.
“With a variety of potential uses, Dixon Street continues the trend of quality sites coming to market at Broomielaw and the city centre delivering new high-quality accommodation in central Glasgow.
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