New development set to deliver increased economic benefits
A revised plan at one of Glasgow’s key rail stations is set to yield significant economic and business opportunity for the city.
Working in partnership with various stakeholders, Scottish Ministers have decided to progress a greatly enhanced development at the North Hanover Street car park site of Queen Street Station at an investment cost of around £80 million.
The new plans being taken forward include extensive retail, food and beverage opportunities, and will also deliver a development deck upon which further private sector investment can be taken forward.
Humza Yousaf, Minister for Transport and the Islands said:
“The new proposal will help deliver a 21st century station acting as a catalyst for further private sector investment. Alongside the redevelopment of Queen Street station being delivered as part of the Edinburgh Glasgow Improvement Programme (EGIP) this will see a significant improvement to the overall passenger experience and deliver significant economic benefits to the city.”
Alex Hynes, ScotRail Alliance managing director, said:
“We look forward to working with the Scottish Government, and other commercial partners, on this ambitious vision for Queen Street. We’re building the best railway Scotland has ever had and these plans will deliver an exciting new development for our customers and the people of Glasgow.
“The station is currently being transformed to allow new longer, faster and greener electric trains to run on our railway and the plans announced today will help to ensure Queen Street continues to play a central role in the social and economic life of the city.”
Councillor Susan Aitken, Leader of Glasgow City Council, said:
“The revised plans for Queen Street Station will deliver far greater local economic benefit, securing the full potential of the site and will provide significant employment opportunities once the development deck has been fully delivered. The redevelopment will both give the station a retail offer befitting one of Scotland’s busiest transport hubs and provide a striking entry into the city for travellers coming to Glasgow.”
Stuart Patrick, Chief Executive, Glasgow Chamber of Commerce
“We warmly welcome the Minister’s decision to progress the more ambitious scheme at Queen Street Station. The enhanced retail and leisure offer will improve the passenger experience, and provide more job creation opportunities for the city centre. It’s accepted that Glasgow requires more Grade A offices, and the development deck will provide a desirable location for such investment in the heart of the city.”
The new below-deck development will provide around 3,800 square metres for such facilities, in comparison to the 500 square metres (approx) which would have been provided by the partially constructed project. The layout of the retail, food and beverage outlets will be largely in accordance with previously consented plans.
Projected rental income from the revised plan sees a potential increase from circa £370k with the original proposal per annum to £2.2 million - £2.7 million per annum. The alternative development is pivotal to continued investment around Queen Street station and securing economic benefits to the city making Glasgow a more attractive place to visit and do business.
Works continue on redeveloping the main station building as part of the Edinburgh Glasgow Improvement Programme (EGIP) with the recent commencement of the main demolition works of Consort House which is needed to make space for the new Queen Street station frontage.
The revised plan, whilst not part of EGIP, will have no detrimental impact on the delivery of the EGIP key milestones.