Energy firm ScottishPower has unveiled plans for the construction of new £80m headquarters in Glasgow city centre.
The new 220,000ft², 14-storey building will be constructed on the corner of St Vincent Street and India Street and will have space for 1,500 people.
ScottishPower chairman Ignacio Galan said, "This new development will ensure Glasgow remains home to ScottishPower’s UK headquarters for the long term and will be a hub for delivering the £10bn of planned investment over the coming years."
UK-based property development firm Helical Bar and its Scottish partner Dawn Developments have been selected as the preferred developer for the new building following a competitive tender process.
ScottishPower will close the existing offices at Atlantic Quay, Yoker, Cathcart and Falkirk and Helical Bar will take over company’s current office locations with the intention to redevelop them later.
ScottishPower chief operating officer Keith Anderson said that the company currently has an ageing office portfolio that is no longer suitable to match the growth in business, particularly in renewable energy, engineering, traditional generation and expanded customer offering.
"Our new office will be modern and functional, and will bring together many ScottishPower people from across the business to be located in a single central site."
ScottishPower has already secured the land for the new development on St Vincent Street and once the development is completed it will take a long-term lease as the single occupier of the office building.
A detailed negotiation process will now start in order to finalise the details of the project, said ScottishPower.
Work on the building will commence in 2013 and complete by late 2015.
The site on which the new building will be constructed was previously part of the headquarters of Strathclyde Regional Council.
Image: Upon its completion by late 2015, the new 220,000ft² building will accommodate 1,500 people. Photo: ScottishPower.