10 Elmbank Street, Glasgow G2 4DL

Long Leasehold / May Sell

The Old High School Complex site is the historic home of The High School of Glasgow, having first opened its doors in 1846 as Glasgow Academy.

The 7 Grade A listed buildings were designed by a number of renowned architects including Charles Wilson, J L Cowan and Watson, Salmond and Gray.

The complex provides a self-contained site, which offers a rare and exciting opportunity to regenerate historically important buildings within a prime Glasgow city centre location.

This unique, City Centre development opportunity extends to:

Total Net Internal Area

8,096 Sq M (87,134 Sq Ft)Total Site Area

2.28 Acres (0.923 Ha)

10 Elmbank Street

ARGYLESTREET

GLASGOWCENTRAL

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BUCHANANGALLERIES

BUCHANANBUS STATION

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GLASGOWAIRPORT11 MINS

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The Old High School Complex is situated adjacent to the Prime West City Centre office core, which continues to evolve and bring additional supply of Grade A office space.

The site fronts Elmbank Street to the west and is bounded by Bath Lane to the north and Holland Street to the east. The location, provides a substantial city centre block, which presents a rare development opportunity, within the International Financial Services District (IFSD).

The surrounding area has continued to see major investment in new developments which has regenerated significant sections of the locality. Completed additions include St Vincent Plaza, Scottish Power HQ and Dakota Hotel whilst the nearby Bothwell Exchange development and Moda living PRS scheme are underway.

Charing Cross Railway Station is located nearby which provides one stop access to Queen Street Station in the heart of the City Centre. Motorway links are conveniently accessible via Junctions 18 and 19 of the M8 with Glasgow International Airport only 11 mins (8 miles) drive.

Travel Information Trains Charing Cross Station Central Station Queen Street Station

1 minute (walk)12 minutes (walk)15 minutes (walk)

Subway St George’s Cross Buchanan Street

10 minutes (walk)15 minutes (walk)

Bus Buchanan Street Bus Station 14 minutes (walk)

Drive M8 M74

1 minute (drive)5 minutes (drive)

Fly Glasgow International Airport Edinburgh International Airport

11 minutes (drive)50 minutes (drive)

The spectacular ‘A Listed’ Old High School Complex was the prestigious former home of The High School of Glasgow. The subjects are set out in five distinct blocks, together with two gatehouse buildings. Within a self-contained campus the majority of the buildings were most recently utilised to provide office accommodation.

The buildings are predominantly sandstone construction with pitched and slate roofs and have many outstanding architectural features; House 6 is a red glazed brick building and House 10 is a modern addition on the southeast corner. The buildings are served by a central boiler system located in House 6 which runs via subterranean, interlinked service ducts. The Old High School Complex is formed around a large central courtyard with gated vehicular access from Holland Street. There is pedestrian access from both Holland Street and Elmbank Street. The site is surrounded by a mixture of traditional stone walls and ornate iron railings.

PlanningGlasgow City Development Plan was adopted on 29 March 2017. The new local development plan replaces Glasgow City Plan 2 (2009) and sets out the Council’s land use strategy providing the basis for assessing planning applications - See https://www.glasgow.gov.uk/index.aspx?articleid=16186 The City Development Plan overarching policies CPD1 Placemaking and CDP 2 Sustainable Spatial Strategy encourage development to be informed by a placed base approach, which means new development should be responsive to its context and seek to build upon the benefits of proximity. It is critical that new development is compatible with existing and future uses.

N.B. All areas provided are indicative and interested parties should satisfy themselves in respect of measurements and floor areas.

59 Holland Street (Gatehouse) 639 Sq Ft 59 Sq M

61 Holland Street (Gatehouse) 716 Sq Ft 67 Sq M

House 5 11,725 Sq Ft 1,089 Sq M

House 6 28,530 Sq Ft 2,650 Sq M

House 7 10,407 Sq Ft 967 Sq M

House 8 17,104 Sq Ft 1,589 Sq M

House 9 12,534 Sq Ft 1,164 Sq M

Building 10 5,479 Sq Ft 509 Sq M

Total floor area 87, 134 Sq Ft 8,096 Sq M

Glasgow City Centre is the economic powerhouse of the country and the heart of the Scotland’s only urban conurbation. The site is highly accessible to public transport connecting to the wider city, city-region and national road and rail networks. The City Centre area is identified as a Strategic Economic Investment Location (SEIL) as defined in CDP 3 Economic Development of the plan and the site is located within the Principal Office Area. Glasgow City Centre is also a key location for a wealth of retail, commercial, leisure and higher educational uses. All of these sectors and uses create jobs, attract inward investment and provide important economic benefits through agglomeration and clustering.

The established use of the former High School complex is class 4 office and continued use of the buildings for this purpose would be consistent with protecting the City Centre as a SEIL. However this unique opportunity also provides a prospect for sustainable repurposing with a new use that complements the office function and extends activity outwith office hours. This is essential in ensuring the city centre remains attractive to inward investors. This outstanding A-listed building has the potential to be utilised as a high end luxury hotel with some of the unique spaces suitable for conferencing, banqueting and supporting leisure uses or concessionary retail. House 10 in particular does not contribute to the historic buildings special interest and removal of this modern, former operational, utilitarian building would be welcomed and may provide an opportunity for modest enabling development. A mix of complimentary uses may also be acceptable providing these uses do not have a detrimental impact on the SEIL or the buildings special architectural or historical interest.

Any alterations or additions to the listed building shall require to pay special attention and respect to the buildings special architectural and historic interest. The Planning Authority, in accordance with CDP 9 Historic Environment, will seek to ensure the appropriate protection, enhancement and management of this outstanding heritage asset. Interested parties shall be aware the subjects are being offered to the market as a restorative regeneration opportunity and no proposals which seek to demolish or unacceptably alter the internal or external fabric of the original school buildings (i.e. Houses 5, 6, 7, 8, 9 and the Gatehouses including boundary treatment) will be entertained. The former High School complex is located within the Central Conservation Area and are category A-listed . Whilst it is considered there is minimal scope for new development within the curtilage of the listed building, any modest enabling development shall:

- Preserve and enhance the special character and appearance of the area and respect its historic context.

- Be of a high standard of design, respecting the local architectural and historic context and use materials appropriate to the historic environment.

- Protect significant views into, and out of, the area.

- Retain and seek to enhance the quality and openness of the central courtyard and spaces between the buildings which are considered to contribute positively to the historic character of the area and the symmetry and setting of the listed subjects.

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1 Central Station2 Queen Street Station3 Charing Cross Station4 M8 Motorway5 Kimpton Blythswood Square Hotel6 Dakota Hotel7 Malmaison Hotel8 Hampton by Hilton Hotel9 IBIS10 Hilton Hotel

11 Scottish Power HQ12 KPMG13 Morgan Stanley14 PwC15 Kings Theatre16 Moda Living PRS Scheme17 Grand Central Hotel18 Double Tree by Hilton19 Santander

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An abundance of top-quality retail and leisure experiences surround The Old High School Complex. The city is the No.1 UK retail destination outwith London’s West End, and Buchanan Street remains the prime retail pitch in Scotland, with Invest Glasgow reporting annual footfall of 50 million people. Glasgow is regularly voted one of the top 10 places to shop in the UK and continues to attract the sectors leading occupiers.

The city benefits from growing visitor numbers, as it has diversified and strengthened its business base, events calendar and tourist attractions. The Glasgow Tourism and Visitor Plan, sets out an ambitious and focused strategy to increase overnight leisure visits by one million over the next five years. The city has a growing reputation as a premier conferencing city, which along with the established sport and recreational tourism markets, have seen the occupancy rate hit 80.7% (STR Global 2018) across its near 10,000 rooms. As Glasgow continues to gain recognition as a leading place to visit, so does demand for Hotels. In 2018 Glasgow was recognised at number 10 within New York Times’ top 52 places to go. This upwards trajectory has seen increased demand from Hotel operators seeking prime sites, such as The Old High School. Glasgow continues to attract international events like the UEFA Euro 2020 Championship, Celtic Connections and more which presents a positive Tourism outlook. The Old High School Complex is surrounded by an abundance of leisure destinations, and is a short walking distance from Finnieston, which has become a hotbed for superb, unique restaurants and bars. Significant investment is taking place to the north of the site, with the “Avenues” scheme seeing £115 million committed to improving infrastructure and integrated public realm space. Phase 1 is nearing completion and has vastly improved Sauchiehall street and its links to the site.

The magnificent Glasgow SSE Hydro, designed by Foster + Partners and opened in 2013, anchors the nearby Scottish Event Campus (SEC) which continues to attract events with international appeal across the music, sport, exhibition and business conferencing sectors. In 2018 Glasgow secured 490 international and UK conferences through to 2021, worth £143 million demonstrating its position as a leading conference destination. At only one stop from the Charing Cross Station, and with direct access onto the Motorway Network at Junction 18 and 19, The Old High School is exceptionally accessible for the Hydro, Glasgow and beyond.

CONTACT

These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers / Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham + Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers / Tenants take the property as they find it. 3. Graham + Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser / Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices. 6. Date of Publication: September 2019.

Innes Flockhartinnes.flockhart@g-s.co.uk0141 567 535107803 896 939

Mark Gilliesmark.gillies@g-s.co.uk0141 567 535807787 291 149

Terry McFarlaneterry.mcfarlane@g-s.co.uk0141 567 539707766 551 663

TENUREThe vendor is seeking offers to Let the subjects by way of a long ground lease (up to 125 years). Full details will be provided to Interested Parties, within Bid Submission Guidance, however it should be noted that whilst offers for the Heritable Title will be considered, there is a strong preference for a Leasehold structure, with a guaranteed base rent with an equity top up.

VATUnless otherwise stated all figures andprices etc, are quoted exclusive of VAT.

EPCAn EPC has been undertaken for each property and can be viewed in the Data Room.

DATA ROOMInterested parties should register their interest via the dedicated website:

t h e o l d h i gh s c h o o l .c o. u k

We anticipate a two stage process in which initial offers received will be shortlisted for further consideration. Full instructions will be issued along with confirmation of the closing date in due course.

theoldhighschool.co.uk