Glasgow is commanding global recognition as an ambitious, dynamic and vibrant city. With a can-do attitude, a commitment to being the most business-friendly city in the UK, and more than two million visitors a year – it is people that make Glasgow different.
Scotland’s economic powerhouse is setting its sights on becoming the most innovative and productive city in the UK. It is:
Glasgow’s modern, diverse economy has strengths in a variety of sectors and sub-sectors.
The city is home to an impressive ‘who’s who’ of blue-chip companies, major global organizations, and international SMEs. It is the UK’s third largest financial center and ranks in the top 50 in the world. Some of the biggest names in global business and finance, international leaders in precision medicine and pharmaceuticals, research services, engineering and an impressive range of global brands call Glasgow home. Their presence endorses Glasgow’sstatus as a world-class business destination.
Choose Glasgow and you will be in excellent company.
There is a critical mass of expertise, passion, and innovation in Glasgow today. Coupled with 21st-century infrastructure and significant and sustained investment, there is no reason to doubt that Glasgow will continue to be at the forefront of discovery and application.
Glasgow is committed to establishing the centers of excellence required to tackle the challenges of the 21stcentury. Since 2011 there has been extensive development across housing, retail, health, leisure, education, hotels, offices, and industrial – totaling £15 billion.
Plans are underway in Glasgow to establish Scotland's first two innovation districts in the WestEnd and Merchant City. Anchored by the Universities of Glasgow and Strathclyde, these districts will leverage local clusters to stimulate growth and maximize the benefits of existing high-value industries including pharmaceutical manufacturing, distributed energy, photonics, bio-nanotechnology and aerospace manufacturing.
The first of its kind in Scotland, the £1.13 billionCity Deal is a joint funding scheme from the UK and Scottish Governments. It is set to significantly transform the metropolitan region over the next20 years. The Glasgow City Region City Deal will fund major infrastructure projects, create thousands of new jobs and assist thousands of unemployed people back to work, improve public transport and connectivity, drive business innovation and growth, and generate billions of pounds of private sector investment.
Glasgow straddles the famous River Clyde in west-central Scotland and sits at the centre of Scotland’s only metropolitan region. With a population of 1.8 million, the Glasgow city region is a key driver for both the Scottish and wider UK economies. As a result, Glasgow benefits from a well-developed transportation network that enables excellent connectivity.
Glasgow is a vibrant city where people chose to live and work. The cultural, sporting, shopping and dining capital of Scotland, there is something for everyone.
Since 2011 Glasgow has seen over £15 billion in capital investment with a new wave of private investment bringing forward a number of planned landmark schemes, across all sectors, primarily in the city center.
Glasgow City Core is the largest office sub-market outside of London. The city provides high quality,competitively-priced workspaces. From modern, award-winning, waterfront offices with large floorplates, to the very best converted and refurbished offices, and an impressive choice of flexible and co-working spaces. Glasgow can provide today's employers with a truly sustainable working environment and its standing stock offers a good return on investment (ROI) for investors.
Glasgow’s office rental costs remain competitive in comparison to many UK cities with property costs typically 72% lower than London, 11% lower than Edinburgh and 9% lower than Manchester.
Investment activity in Glasgow has been strong in2017 with 54 sales transactions exceeding £355mwith an average yield of 7.9%. This investment has been further boosted with two sales transactions in January 2018 totaling £115 million with an average yield of 4.7%. (CoStar – Jan 2018).
Mixed-use development is seen as a key driver in bringing forward new residential, office and leisure development within the city center. Planned schemes will deliver future homes, hotels, retail and workspace in the city center and will change how we live, work and socialize. Major pipeline projects include the University of Glasgow CampusRedevelopment Masterplan, Buchanan Wharf (Tradeston), Candleriggs Quarter and 60 Bath Street/Sauchiehall Street.
Glasgow’s profile as a top international tourism destination has gone from strength to strength.Business tourism, world-class retail, major attractions and global events are all driving demand for additional hotel rooms.Glasgow’s Tourism and Visitor Plan to 2023 sets out a clear direction for continuing to build the city global profile as a successful tourist destination and is focused on increasing overnight leisure tourism visits by one million over the next seven years. To meet these targets Glasgow requires an additional2,500 rooms to add to the existing 9,000 rooms in the city. Despite a pipeline of nearly 1,000 roomsGlasgow still requires more hotel stock.
Glasgow is the UK’s second largest retail centre by spend and achieves the second highest prominent in the UK. It is an exciting and extensive retail destination for shoppers and continues to attract new lettings within the core retail areas of the city centre. The market is competitive on primeBuchanan Street, delivering a strong demand for prime retail space. In the last 12 months, the prime and super-prime rate has jumped from around £280per ft² to a peak of £314 per ft² equating to a very impressive year-on-year increase rate of 12%
Glasgow is a major center for Information Technology, Financial & Insurance Services, Health & Medical, Renewable & Smart Energy, Creative, Marketing & Media, Engineering, Leisure & Tourism, Education & Training and Airport.
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