Compulsory purchase bid to help bank plans
Barclays unable to trace remaining owners from at-risk Beco building
PARTS of a listed building are set to be bought by the council to help Barclays complete its Tradeston campus. The banking giant has not been able to track down all owners with interests in the at-risk Beco building.
Glasgow City Council plans to compulsory purchase the remaining areas to allow Barclays to refurbish the B-listed Kingston Street property.
All council costs in relation to the process will be covered by Barclays, which is developing a new Scottish headquarters on the south of the Clyde.
The vacant Beco building – built in 1878 as draper’s warehouse and showroom – is “in a serious state of disrepair” and on the Buildings at Risk register.
A council officer said: “Barclays have acquired most of the ownerships, but there are certain parts of the building they have been unable to buy.
“To allow them to refurbish the building, they really need to own the whole building, so they can refurbish the common parts and secure the building.”
He said he understands Barclays owns over 90% of the building, adding: “The bits that they don’t own are obviously a very small part.”
Three of the outstanding sections are across the second, third and fourth floor and “believed to belong to one owner”.
“While Barclays has managed to identify the owner, they have been unable to trace them with their last known address being abroad,” a council report stated.
Negotiations are ongoing with another owner over a voluntarily sale of a section of the fourth floor.
Barclays staff will continue to seek a voluntary sale.
The report adds “in order to achieve the regeneration of the Beco building” it is “vital that Barclays hold clear title to all the title interests”.
“They feel the three outstanding parts are probably outwith their reach,” the council officer added.
Barclays got permission to turn the building into a new branch and offices last year.
There will also be meeting and events space and a lab for entrepreneurs, the plans revealed.
It was described as the “missing piece of the jigsaw” in the new campus.
Before submitting a planning application, Barclays carried out repairs to safeguard the site.