More than £8 million is to be invested to refurbish vacant office space in Glasgow.

Announcing the funding, Housing Minister Kevin Stewart said the £8.35m investment is being made from the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) fund, a multi-million initiative which supports regeneration schemes across Scotland.

The investment has been awarded to Tarn Crag Limited (TCL), a subsidiary of commercial property investor Praxis, which will refurbish Dalmore House on St Vincent Street.

The £16.4m scheme will see around 71,000 ft2 of Grade A office space created, with space for more than 500 workers.


Construction work is now underway and the offices are set to be leased by October this year.

Minister Stewart said: "Glasgow has a shortage of high quality office space and this latest investment will increase the city's stock, making it an even more appealing proposition to locate and do business in.

"The fact that it will support 196 new jobs in construction plus training and apprenticeship places in the city is very welcome news. This is exactly why we have provided additional support for SPRUCE, allowing it to continue to invest in this sort of regeneration project, and helping our urban areas flourish and ultimately support the communities which sustain them.

"SPRUCE funding can now be accessed for projects right across Scotland and we hope to see further investments during 2017."

Gary Roberts, Managing Director at Praxis said: "We are extremely pleased to have reached agreement with SPRUCE and Chenavari who have also provided investment to deliver this refurbishment in partnership with us and are delighted that both have bought into our vision for the property."

(LM)