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£80m office deal to complete Quartermile

posted 1 Jul 2014, 05:54 by Tollcross Junction   [ updated 1 Jul 2014, 06:02 ]

An £80 million deal has been signed to build two major office blocks as part of the completion of the massive Quartermile development on the site of the old Royal Infirmary.

It is believed to be one of the largest speculative office funding deals ever struck in Scotland. The two buildings will ultimately provide office space for over 2000 people and will complete the office component at the site.

The agreement, involving Moorfield Real Estate, which owns Quartermile, and M&G Real Estate, the investment arm of insurer Prudential plc, will be the first speculative Grade A office development in the city centre for several years. It is expected to create between 300 and 400 construction jobs during the build period.