Ryden has won the mandate to dispose of a significant development site in the heart of Glasgow City Centre.
At 1.371 acres, 173 Pitt Street - the former HQ of the legacy Strathclyde Police comprises existing buildings totalling 190,000 sq ft on an entire ‘island site’ and is one of the rarest and largest commercial development opportunities in the city centre to become available for many years. Police Scotland has recently relocated to their new purpose built facility at Clyde Gateway in Dalmarnock, therefore releasing 173 Pitt Street to the market.
Ryden is tasked with devising a disposal strategy and marketing the property to secure best value for Police Scotland. The Scottish Futures Trust is providing strategic support to Police Scotland on the project as part of a wider initiative to assist public bodies with disposal of their surplus assets. Marketing will be launched shortly.
Head of Public Sector, Mandy Watson who will lead the specialist Ryden team, commented: “This is an exciting and rare opportunity and we look forward to bringing the property to the market. It is likely that the existing buildings will be demolished to pave way for new development. The site is well connected and would suit a whole range of uses".
Detective Chief Constable Neil Richardson from Police Scotland said. “We’re delighted to confirm the appointment of Ryden to market the former Pitt Street Police headquarters. This represents a significant milestone for Police Scotland as we move to a purpose built facility in Dalmarnock that will support the regeneration of that local area. Pitt Street served the legacy Strathclyde force well for many years, occupying an enviable location in the heart of the city. We look forward to seeing that site being developed again for the benefit of the city.”
The Pitt Street site was constructed in two phases; The first was a College of Commerce in 1924, however the site was taken over for occupation by the then Strathclyde Police in 1975 and a second phase was completed in 1982.