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Latest SPRUCE Investment in Scotland - Queen Street, Glasgow

The Scottish Government has recently announced the latest SPRUCE investment in Scotland - a £9.6m loan to transform an empty building in the city centre of Glasgow into high quality retail and office space which will support more than 30 jobs and apprenticeships in the construction sector, and accommodate up to 1,200 workers.

The project, which is being developed and built by BAM, follows on from a recent research report published by Ryden which identified a demand in Glasgow for new office space to enable it to compete more effectively with other large UK cities, and to attract international companies to Scotland.

The SPRUCE fund has a total of £48m to invest by December 2015. ESEP and fund managers Amber are keen to identify and develop similar projects throughout the 13 eligible Local Authority areas.

The fund is capitalised with resources from Scottish Government and the European Regional Development Fund.

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