Scottish Enterprise’s Industry Engagement Building Unveiled
inovo, Scottish Enterprise’s Industry Engagement building, at the heart of Glasgow’s International Technology and Renewable Energy Zone (ITREZ), has been unveiled.
Scheduled for completion in mid-July this year, this new building will offer Grade A office accommodation to renewable sector companies looking to collaborate with the University of Strathclyde and key industrial partners on innovations that can drive down costs helping Scotland maximise opportunities in renewable energy and enabling technology sectors.
It has also been confirmed that the UK’s Offshore Renewable Energy Catapult, will be located in the inovo building. The Catapult currently has 20% of the building under offer on the top floor of the five storey building and GVA is the sole letting agent for the total area of 41,637 sq ft.
Located on a two hectare technology zone in the heart of the Merchant City, the ITREZ development, owned by Scottish Enterprise, will play a key part in Glasgow’s burgeoning role as a centre of excellence for design and innovation in the renewables sector. inovo, together with the adjacent University of Strathclyde’s Technology and Innovation Centre, are at the heart of ITREZ providing a focal point for strengthening collaborations on key areas of renewable energy research between industry, academia and public sector partners.
Allan McQuade, director of infrastructure has said that Scottish Enterprise is engaging with its stakeholders on the next phase of development on this strategic location. “inovo represents an important part of a growing cluster of R&D facilities for Scotland’s burgeoning renewables industry. The co-location of academia and industry within IREZ provides an ideal breeding ground for industry to harness cutting edge research and access the best people to develop products and services which will shape the renewable industry of tomorrow.”
Alison Taylor, GVA director Glasgow, says the building offers an unprecedented opportunity for R&D companies to be part of the fast-growing renewable energy hub in the centre of Glasgow. “As inovo is the first Grade A office accommodation to be built in Glasgow since 2010 it is attracting considerable attention from potential tenants. They will also benefit from lower than headline rates for Grade A accommodation with rents at £22.50 sq ft in the off-prime city centre location.”
In order to encourage inward investment, five year leases will be available along with other market incentives. inovo will benefit from being adjacent to the University’s Technology Innovation Centre which will provide state of the art lecture rooms, laboratories and conference facilities. Scottish Enterprise is contributing to the costs of the University of Strathclyde -funded Technology and Innovation Centre due for completion in the summer of 2014.
inovo is the first office building in Glasgow to obtain an ‘A’ Energy Performance Certificate rating for its low carbon emissions and it has also has an Excellent BREEAM environmental assessment rating. Natural stone and hardwood contribute to the high quality finish throughout the building.
Tenants will have access to a shared business lounge on the ground floor near to a café/retail unit also available for let as well as garaged parking in the basement and bespoke cycle facilities, lockers and a shower area. Smaller offices are available on the ground floor while larger floor plates of around 9,300 sq ft are also available.
David Currie, business services director of the Offshore Renewable Energy Catapult said: “The Catapult aims to become the first port of call for those seeking innovation services. Being located in Inovo within the ITREZ campus positions the Catapult in a research rich environment, in close proximity to leading European university teams and research facilities, underpinning the value of integrated industry/academic applied research. Collaboration is key to driving down costs in the sector and INOVO and ITREZ offer a fantastic environment which maximise such opportunities.”
Press release, May 14, 2013; Image: scottish-enterprise