Having experienced the highest rates of economic growth and development in Scotland in recent years, Glasgow has proven itself to be resilient in the face of various challenges. So, what is next for this ambitious city and what plans are in place to ensure Glasgow’s image remains 'open for business'?
EG's Question Time event on 14 November 2019 addressed these and many other questions, with Shoosmiths' real estate partner, Barry McKeown, and fellow panellists, Rick de Blaby - CEO at Get Living, Nicola Cameron - Director of Property Development & Investment at University of Glasgow and Bruce Patrick - Director at Savills, engaging in a passionate debate on what the future holds for Glasgow.
Some of the points raised included:
- Health and wellbeing is an increasingly relevant factor for developments in the city. In a resurgent period, this presents a real opportunity.
- New schemes are increasingly addressing the need for "public realm", environments in which people want to live, work and play. It is no longer just about "boxes you drive to and from".
- UK investors are now 20% of the market in Glasgow. A few years ago that would have been higher. The city is an increasingly attractive location for international investors.
- Residential is an integral part of the solution to the challenges around suburban shopping. We need to change the mindset.
- A priority for the city is to create environments which people want visit and then stay. There are great options for housing, education, lifestyle and work in the city and we need to make more of what the city has to offer.
- Finance and investment are the "oxygen" of the city, without which everything else falls down. We need to remove obstacles and make sure developments can get out of the ground more easily.
- If we're not factoring in the sustainable credentials of buildings then we will have a serious problem in a few years' time. It is a priority for the city.
- Over the next few years we will likely see at least 4-5 new buildings in Glasgow which are truly world class.
And that is just a snapshot of what was covered. We will share the full recording of the debate in the coming days. But what was clear from the discussion is that Glasgow is a city on the up and definitely 'open for business'.
"Glasgow is in the midst of a resurgent period that could see a real change to the city. It is really exciting."