Breaking new ground with landmark building

5 July 2018 14:52 - BAM Construct UK Ltd
Breaking new ground with landmark building

Glasgow, 5 July 2018 - Representatives from BAM TCP Atlantic Square and HM Revenue & Customs gathered at a ground breaking ceremony at Atlantic Square celebrating a major new investment and landmark buildings for Glasgow.

Dougie Peters, Managing Director of BAM Properties, welcomed Fiona Wallace and colleagues from HM Revenue & Customs (HMRC) to view the progress of construction work which is now well underway.

Situated in the heart of the International Financial Services District, HMRC is to lease the ten storey new building which features 187,205 sq ft of office space for a minimum of twenty years. The Grade A building will accommodate some 2,700 full time equivalent employees by the end of 2021 and is one of the 13 new HMRC regional centres.

A joint venture between BAM Properties and TCP Developments Limited, forward funding for HMRC’s building has been provided by Legal & General on behalf of Legal & General Retirement which invests in high-quality, long-term UK assets.

The building, which will feature the retained facade of an A-listed former warehouse buildings built by pioneering retailer, William Whitley in the mid nineteenth century, will be designed by BAM Design and built by BAM Construction.

The pre-letting of Building 1 at Atlantic Square has enabled the developers to speculatively build and fund Building 2, which will provide 96,650 sq ft of Grade A office accommodation ready for occupation in autumn 2020.

Dougie Peters, Managing Director, BAM Properties, said: ‘Using the latest technology we’ve been able to virtually show our HMRC colleagues the building in great detail but nothing beats the experience of viewing the site first-hand. Piling is well underway and you can now start to see the building take shape.’

Fiona Wallace, Regional Implementation Lead, HMRC, added: ‘This significant milestone in the Atlantic Square development is the result of months of planning and preparation. When it is built, the new building will mean our staff can work in a modern and bright environment and work collaboratively with other teams, to increase our effectiveness in collecting taxes. The building work is just the beginning of cementing HMRC’s presence in Scotland to create a tax authority fit for the future.’

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About BAM Properties

BAM Properties is known for commercial and retail developments that create value for investors. Our high quality, sustainable developments also bring benefits to the businesses and people who work in them.

BAM Properties is the property development arm of BAM Construct UK a construction and property services company that undertakes design, construction, facilities management and public private partnerships. Other significant developments in Scotland include the successful speculative built development, CONNECT110NS in Queen Street, Glasgow, which was sold to Deutsche Asset & Wealth Management in 2015; the Aurora building in Bothwell Street, Nike’s flagship store on Buchanan Street, Tesco Bank’s headquarters at Haymarket in Edinburgh and NFU’s Glasgow office.

BAM Properties has developed more than three million sq ft of commercial and retail space over the past 25 years

We are part of Royal BAM Group a European construction and property services enterprise that is listed on the Euronext Amsterdam.

www.bam.co.uk