Development and investment firm Osborne & Co has secured planning consent from Glasgow City Council to create the mixed-use city centre development, following the submission of a detailed planning and listed building application in April 2020.
The project involves the transformation of the City of Glasgow College building. In total, the mixed-use development will represent a £100m investment from Osborne & Co.
Osborne & Co plans to demolish an existing ‘podium’ building facing Cathedral Street to make way for a 260-bed hotel across 11 floors, which would connect to the Met Tower via a landscaped plaza, also accessible to the public.
A flexible double-height auditorium space will be created below the plaza which could also suit a market hall, co-working space or a suite meeting rooms and theatre-style conferencing facilities. This will link to the reception level of the tower and will have its own separate entrance on North Hanover Street.
Osborne & Co said that it is confident that the space will be attractive to tech firms as well as other sectors of the market, given the building’s location in the heart of the Glasgow City Innovation District and its proximity to University of Strathclyde. Neighbouring developments such as the University of Strathclyde’s Technology and Innovation Centre and Inovo buildings, have attracted a high number of technology companies to the area.
Will Hean, development director at Osborne & Co, said: “The Met Tower is intrinsic to Glasgow’s identity and we’ve worked closely with key stakeholders to ensure that our final proposal complements the surrounding area and provides dynamic indoor and outdoor space, which will capitalise on its central location beside Queen Street train station.
“Achieving planning consent comes at a critical time in the real estate market which continues to be challenged because of the coronavirus pandemic. Despite this, we are committed to investing significantly in Glasgow as we recognise the strength and diversity of the Glasgow economy. Glasgow’s tech sector in particular will be significant as the economy works its way back to strength.”