Application to demolish landmark city building

A PLANNING application has been submitted to demolish a landmark Glasgow city centre building and replace it with a £75 million office development with ground-floor retail space.

Originally constructed in the mid-1960s, Princes House was formerly home to Lloyds Banking Group, and more recently Barclays. Located in Glasgow’s central business district, it occupies a corner plot on Waterloo Street and West Campbell Street, a two-minute walk from Glasgow Central Station.

Mosaic Architecture + Design has submitted a planning application on behalf of Garroch Investments to demolish Princes House and develop “Magnet”, described as “a brand new class-leading £75m Grade A office development with the highest environmental credentials”.

The development of Magnet is expected to create around 1,200 new jobs in the city, Mosaic said.

Neil Haining, director of Mosaic, said: “The location of the site offers the opportunity for Magnet to be a highly visible landmark within the city through the generation of a taller building than that existing on a gateway site to the city centre.”