WELCOME TO GLASGOW YOUR BUSINESS IS HERE.

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1 CITY PROSPECTUS

2 WELCOME TO GLASGOW Glasgow is the beating heart at the centre of one of the UK s largest and most successful city regions. Scotland s largest city and only metropolitan region generated 43 billion GVA in Glasgow s 4.4% GVA increase between 2015 and 2016 was a larger percentage increase than both the UK and Scottish averages. Glasgow is the powerhouse of the Scottish economy. Glasgow supports a strong and diverse business base. More than 54,000 companies (28% of Scottish companies) make their home in the Glasgow city region, supporting 844,000 jobs (34% of Scottish jobs). From a base in Glasgow it is easy to do business with the rest of the UK, Europe and beyond. Glasgow s Economic Strategy was launched with the prime objective of making Glasgow the most productive major city economy in the UK. Alongside this, the strategy has set an ambitious new jobs target of 50,000 by Glasgow has one of the largest economies in the UK and the key to this success is the diversity of its business and industry base combined with a highly skilled workforce. Economic and productivity growth is focused around 8 key sectors: Digital Technology Finance and Business Services Creative Industries Low Carbon Health and Life Sciences Engineering, Design and Advanced Manufacturing Tourism and Events Higher and Further Education Within each of these key sectors, a number of specialisms and subsectors have evolved in conjunction with the city s core strengths. Combined with a wealth of talent and knowledge, Glasgow has the second highest level of productivity of the UK core cities and is Scotland s most dynamic city. YOUR BUSINESS IS HERE. 2 / CITY PROSPECTUS INVESTGLASGOW.COM \ 3

3 THERE HAS NEVER BEEN A BETTER TIME TO INVEST IN GLASGOW With over 15 billion capital investment since 2011 across all sectors, Glasgow embraces new investment and works with partners to deliver a compelling offer. Likewise, Glasgow offers an exceptional operating environment for businesses of every shape and size. Location of choice No. 1 city in #1 Scotland for FDI while Scotland is the best performing UK region outside of London Cost competitive Glasgow s labour and accommodation costs are lower than many other UK and European cities Excellent infrastructure Glasgow is a connected city both physically and digitally. Ongoing investment in key infrastructure ensures a resilient Glasgow will meet the demands of the 21st century Investing in the future Over 15 billion capital investment since 2011 Open for business Top businesses choose Glasgow for many reasons. They say it is because of the quality and loyalty of the flexible and qualified workforce, the cosmopolitan feel of a large city, great access, world-class and cost-effective office space Quality of life Glasgow ranks high among the best UK cities for quality of life Talent and skills Glasgow has a wealth of skills and talent thanks to world-class universities and colleges. The academic heart of Scotland, the city is home to some 130,000 students from 135 countries Spirit of innovation Glasgow is among Europe s most innovative cities and plans are underway to establish Scotland s first innovation districts in the Merchant City and West End Collaboration Triple helix of cooperation among universities, businesses and the public sector enables greater levels of innovation Accommodation to suit your needs Glasgow has a steady supply of Grade-A office, retail and leisure spaces to suit every size and type of business Dedicated support Glasgow City Council s Invest Glasgow is a dedicated resource for inward investment. The team is on hand to work with you from initial contact to helping you get settled in the city and beyond 4 / CITY PROSPECTUS INVESTGLASGOW.COM \ 5

4 WHY GLASGOW? Glasgow is commanding global recognition as an ambitious, dynamic and vibrant city. With a can-do attitude, a commitment to being the most business-friendly city in the UK, and more than two million visitors a year it is people that make Glasgow different. TOP LARGE EUROPEAN CITY OF THE FUTURE 2018/19 Glasgow has achieved an outstanding set of results in the prestigious fdi Magazine European Cities of the Future Awards 2018/19. In the Large Cities categories, Glasgow was awarded: Top 10 overall Large City; Runner-up for FDI strategy; and Top 10 for Business Friendliness and Connectivity. TOP TEN GLOBAL CITY FOR FDI STRATEGY 2016/17 Glasgow has been recognised as a Top Ten Global City for FDI Strategy. Ranked seventh, this is a true endorsement of the city s appeal as a location for FDI. Glasgow also received bespoke awards for worker training (The Glasgow Guarantee) and a specialism award for life sciences. PEOPLE MAKE GLASGOW The city of Glasgow has a population of more than 615,000, totalling 1.8 million in the wider city region. With one of the youngest populations in Scotland and 44% of educated to degree level, finding and retaining staff is easy. ONE OF THE WORLD S BEST PERFORMING FINANCIAL CENTRES The Global Financial Centres Index (Sep 2017) ranked Glasgow in the Top 50 of the world s best performing financial centres and in the Top 15 of Europe s best performing financial centres. Glasgow has the third most important financial centre in the UK with a dedicated International Financial Services District. UK S BEST CONVENTION BUREAU 11 YEARS RUNNING The Glasgow Convention Bureau at Glasgow Life was named the UK s Best Convention Bureau for a record 11th time in 2017 at the influential Meetings & Incentive Travel (M&IT) Awards. TOP UK CITY FOR RETAIL OUTSIDE LONDON Glasgow is one of the UK s largest and most successful shopping locations, after London s West End, it is the first UK city for retail by comparison spend (tourists, workers and residents) (HDH 2017). FOURTH IN THE WORLD FOR SUSTAINABLE BUSINESS TOURISM Now ranking number 4 in the world, Glasgow has been recognised as one of the world s leading cities for sustainable business tourism by the Global Destination Sustainability Index. TOP 5 SPORTING CITY IN THE WORLD Glasgow is ranked fifth in the world s top 10 sporting cities (SportBusiness Ultimate Sports City 2016 Awards) ahead of Olympic cities such as Los Angeles, Tokyo, Sydney, Amsterdam and Paris. Glasgow was also named the No. 1 city in the world in the Legacy category in recognition of its commitment to increasing sports participation for citizens. WORLD S TOP INDOOR ARENA THE SSE HYDRO The SSE Hydro is ranked first in the global Billboard Chart Top 10 Venues Index and third in Pollstar s Top 100 global arenas list. 6 / CITY PROSPECTUS INVESTGLASGOW.COM \ 7

5 PEOPLE AND SKILLS The city s PEOPLE MAKE GLASGOW brand has been embraced by visitors and Glaswegians alike for the simple fact that it is undeniably true. Top quality people are at the heart of any successful business and Glasgow offers one of the most highly skilled and flexible workforces in Europe. The city is known for a strong Scottish work ethic and traditional Glasgow friendliness. Glasgow benefits from a large travel to work area which provides a sustainable and mobile labour pool. Within one hour s commute, Glasgow has access to 41% of Scotland s population. Over 70% of city residents are working age and 44% are educated to degree level. With the second highest productive workforce of the UK s ten core cities, investors and business can rest assured that Glasgow s workforce can meet and exceed your needs. KNOWLEDGE ECONOMY With some 20,000 graduates per annum, Glasgow has the second-largest student population in the UK more than 130,000 students from 135 countries live and study here. Glasgow s universities are among the best in the world, regularly topping league tables, winning prestigious awards and securing highly-competitive European funding. Glasgow s colleges are the three largest in Scotland and integral to developing the talent pool in Glasgow. Agile and responsive, the further education provision is committed to providing core market skills and improving progression into employment. The student experience in Glasgow is among the best in the UK (QS Best Student Cities Index) and many choose to stay in the city after graduation. In fact, retention rates in Glasgow are some of the highest in the UK offering businesses access to the best and brightest talent. DIGITALLY SAVVY Glasgow s digital economy is one of the fastest growing in the UK and is certainly the largest in Scotland. Digital is a key enabler of the modern economy and Glasgow has the skills needed to meet this challenge. An organic network of digital expertise has sprung up in Glasgow. Numerous tech meet-ups and coding clubs meet regularly and are driving open innovation and skills development. Google Digital Garage and Code Clan are among the more recognisable organisations that offer digital skills training. Ranked no. 1 of the UK s 10 core cities for producing the highest number of Financial and Business graduates Ranked no. 1 of the UK s 10 core cities for producing the highest number of Life Sciences students and graduates 50% of Scotland s engineering students in electronics, mechanics and software Business schools at the University of Glasgow and the University of Strathclyde are both triple accredited only 1% of business schools worldwide hold this accreditation 8 / CITY PROSPECTUS INVESTGLASGOW.COM \ 9

6 COMMERCIAL REAL ESTATE Since 2011 Glasgow has seen over 15 billion in capital investment with a new wave of private investment bringing forward a number of planned landmark schemes, across all sectors, primarily in the city centre. OFFICE SPACE Glasgow City Core is the largest office sub-market outside of London. The city provides high quality, competitively-priced workspaces. From modern, award-winning, waterfront offices with large floor plates, to the very best converted and refurbished offices, and an impressive choice of flexible and co-working spaces. Glasgow can provide today s employers with a truly sustainable working environment and its standing stock offers a good return on investment (ROI) for investors. MIXED-USE Mixed-use development is seen as a key driver in bringing forward new residential, office and leisure development within the city centre. Planned schemes will deliver future homes, hotels, retail and workspace in the city centre and will change how we live, work and socialise. Major pipeline projects include the University of Glasgow Campus Redevelopment Masterplan, Buchanan Wharf (Tradeston), Candleriggs Quarter and 60 Bath Street/ Sauchiehall Street. OFFICE 2017 CITY CORE OFFICE MARKET 12 MONTH SALES VOLUME 355m 2017/18 MARKET DATA PRIME YIELD 2017 CITY CENTRE PRIME OFFICE RENTS AND YIELDS LOCATION RENTS PER FT ( ) YIELD Glasgow London (West End) Reading Manchester Birmingham Leeds PRIME RENT (SQ FT) 5.5% GRADE A OFFICE PIPELINE ADDRESS SIZE FT² OCCUPIER VACANCY RATE 12.7% Cadogan Street, ,000 M&G Real Estate Bothwell Street, ,000 HFD Property Group Atlantic Square 1 198,000 Taylor Clark/BAM Atlantic Square 2 95,000 Taylor Clark/BAM CoStar (Jan 2018) Sauchiehall Street, ,000 Formal Investments Ltd Waterloo Street, 64 (The Still) 100,000 Whiteburn Projects Ltd OCCUPIER MARKET Glasgow s office rental costs remain competitive in comparison to many UK cities with property costs typically 72% lower than London, 11% lower than Edinburgh and 9% lower than Manchester. INVESTMENT MARKET Investment activity in Glasgow has been strong in 2017 with 54 sales transactions exceeding 355m with an average yield of 7.9%. This investment has been further boosted with two sales transactions in January 2018 totalling 115 million with an average yield of 4.7%. (CoStar Jan 2018) HOTEL Glasgow s profile as a top international tourism destination has gone from strength to strength. Business tourism, world-class retail, major attractions and global events are all driving demand for additional hotel rooms. Glasgow s Tourism and Visitor Plan to 2023 sets out a clear direction for continuing to build the city s global profile as a successful tourist destination and is focused on increasing overnight leisure tourism visits by one million over the next seven years. To meet these targets Glasgow requires an additional 2,500 rooms to add to the existing 9,000 rooms in the city. Despite a pipeline of nearly 1,000 rooms Glasgow still requires more hotel stock. Bristol Cardiff Newcastle Cushman & Wakefield, Office Market Snapshot, third Quarter KEY LEASING TRANSACTIONS ADDRESS SIZE FT² OCCUPIER Europa Building, 450 Argyle Street 40,853 Student Loans Company 123 St Vincent Street 27,893 Hutchison 3G UK Ltd Commonwealth House, Albion Street 21,155 OFGEM St Vincent Plaza 17,222 Zurich Insurance 141 Bothwell Street 8,628 JP Morgan Garment Factory, Ingram Street 8,374 8, Architecture Incremental Group Cadogan Street (New Exchange) 95,500 FORE Partnership 2017/18 KEY OFFICE SALES PROPERTY PRICE ( M) YIELD PURCHASER Skypark % Hermes International Investment St Vincent Plaza, 303 St Vincent St Starwood Capital Operations, LLC, US 122 Waterloo Street % Mirae Asset Global Investment 3 Atlantic Quay % Legal & General Scottish Life House, 48 St Vincent St % PonteGadea UK Ltd Capella, 60 York St % Wirefox Developments Ltd Granite House, 17 Stockwell St % ICG-Longbow (London) UK 2017 has already been a strong year for Glasgow and, with a couple of months still to go, it could be the best in its history. We predicted at the turn of last year that investment activity in Glasgow would pick up in 2017, as more of the city s prime assets let up and were ready to trade that prediction has come to pass and is still playing out. With a range of overseas buyers looking at Glasgow, strong competition is likely to emerge in the months ahead for its prime offices especially with UK funds making a return to the city. Yields in the city centre remain at 5.50% - a relative discount compared to other regional UK centres while the occupier market dynamics are exceptionally strong. We expect more high-quality assets to trade in Glasgow in the near future. RETAIL Glasgow is the UK s second largest retail centre by spend and achieves the second highest prime rent in the UK. It is an exciting and extensive retail destination for shoppers and continues to attract new lettings within the core retail areas of the city centre. The market is competitive on prime Buchanan Street, delivering strong demand for prime retail space. In the last 12 months, the prime and super-prime rate has jumped from around 280 per ft² to a peak of 314 per ft² equating to a very impressive year-on-year increase rate of 12%. 100 Queen Street 7,922 Mazars CoStar (Jan 2018) HOTEL Glasgow compares strongly with other European cities appearing in the Top 10 for average hotel occupancy rates AVERAGES HOTEL OCCUPANCY REV PAR AVERAGE DAILY RATES (ADR) 82.17% STR Global (2017) Cuprum, Cadogan Square % Credit Suisse Switzerland CoStar (Jan 2018) 2018 HOTEL PIPELINE HOTEL OPERATOR LOCATION NO OF ROOMS Anchor Line Hotel St Vincent Place 64 Ibis Styles (City Centre West) Waterloo Street 137 Motel One Argyle Street 374 Radisson RED Finnieston Street 174 John Rae, Head of Investment, Knight Frank 10 / CITY PROSPECTUS INVESTGLASGOW.COM \ 11

7 SECTOR EXPERTISE DIGITAL TECHNOLOGY Glasgow s digital economy is one of the fastest growing in the UK and is certainly the largest in Scotland; a leader in digital technology and innovation. Key subsectors: software engineering, internet of things, Big Data Number employed: 25,992 GVA: 591m Source: Scottish Growth Statistics FINANCIAL & BUSINESS SERVICES Glasgow is the UK s third largest financial centre and second largest city for insurance and long term savings investment, clustered around a thriving International Financial Services District. Key subsectors: asset management, banking, general insurance, and fintech Number of companies: 3,355 Number employed: 55,000 Total GVA: 1.6bn GVA per employee: 51,384 Total Turnover: 2.1bn HEALTH & LIFE SCIENCES The Glasgow BioCorridor is the powerhouse of the Scottish life sciences sector. With Glasgow at the centre, it offers the very best universities, research, talent and facilities. Key subsectors: precision medicine, medical technology, clinical and translational medicine, pharmaceutical services Number of Life Science companies: 230 Number employed in Life Sciences industry: 10,000 GVA per employee in Life Sciences industry: 41,628 LOW CARBON A leading city for renewable technology by using its historic strengths in engineering and education to deliver a low carbon economy that will deliver a greener environment for its residents and visitors. Key subsectors: renewable energy, circular economy, smart city Number of companies in Energy (including renewables) sector: 220 Number employed in Energy (including renewables) sector: 4,000 Total GVA in Energy (including renewables) sector: 822m GVA per employee in Energy (including renewables) sector: 195,636 CREATIVE INDUSTRIES The city that inspired Charles Rennie Mackintosh and Alexander Greek Thomson is now a creative hub of the 21st century. Glasgow has a nationally renowned performing arts scene, is a centre of excellence for visual arts and a leader in digital technology. Key subsectors: film and T.V. production, music, creative design and marketing Number of companies: 2,420 Number employed: 22,150 Total GVA: 881.3m GVA per employee: 51,287 Total Turnover: 1.6bn ENGINEERING, DESIGN & ADVANCED MANUFACTURING Glasgow has refocused its engineering and shipbuilding knowhow to the challenges of the 21st century and now builds more satellites than any city outside of Silicon Valley. Key subsectors: aerospace, space, quantum and photonics Number of manufacturing units: 800 Number employed in manufacturing industry: 17,800 Total Manufacturing GVA: 1.1bn GVA per head in manufacturing industry: 60,304 TOURISM & EVENTS Voted the Rough Guides Friendliest City in the World, Glasgow s reputation as a tourism hub is now well established. Major events, business tourism and short breaks are all reasons to visit Glasgow. Key subsectors: sport, conferences/ conventions and retail Number of companies: 855 Number employed: 29,000 Total GVA: 576.2m GVA per employee: 20,582 Total Turnover: 1.1bn HIGHER & FURTHER EDUCATION Glasgow is home to the largest student population in Scotland and proud of its long tradition of education and award-winning institutions of higher and further education. 5 institutions of higher education: University of Strathclyde, University of Glasgow, Glasgow Caledonian University, Glasgow School of Art, Royal Conservatoire of Scotland 3 super colleges: City of Glasgow College, Glasgow Kelvin College, and Glasgow Clyde College Over 130,000 students 8 generated for the Scottish economy for every 1 received for the Universities of Glasgow and Strathclyde 12 / CITY PROSPECTUS INVESTGLASGOW.COM \ 13

8 EXCEPTIONAL BUSINESS BASE Glasgow s modern, diverse economy has strengths in a variety of sectors and sub-sectors. The city is home to an impressive who s who of blue chip companies, major global organisations and international SMEs. It is the UK s third largest financial centre and ranks in the top 50 in the world. Some of the biggest names in global business and finance, international leaders in precision medicine and pharmaceuticals, research services, engineering and an impressive range of global brands call Glasgow home. Their presence endorses Glasgow s status as a world-class business destination. Choose Glasgow and you will be in excellent company. REPROCELL EUROPE LTD JACOBS ENGINEERING AGGREKO JP MORGAN AON BBC SCOTLAND BT KPMG ASHURST AXA MORGAN STANLEY BABCOCK NATIONAL AUSTRALIA GROUP BIOOUTSOURCE ENCOMPASS SGURR ENERGY ESURE RBS BIOPTA BARCLAYS WEALTH ROYAL SUN ALLIANCE BNP PARIBAS CHIMAERA BIO SCOTTISHPOWER RENEWABLES CLYDESDALE BANK TESCO BANK FERRING STEEL ENGINEERING LTD ENERGEN BIOGAS PHARMACEUTICALS THALES NFU MUTUAL SANTANDER ASSET MANAGEMENT COHERENT SCOTLAND SSE FRAUNHOFER UK THERMO FISHER SCIENTIFIC GAMESA VASCUTEK TERUMO GLAXOSMITHKLINE WEIR POWER & INDUSTRIAL HANDELSBANKEN SPIRE GLOBAL CLYDESPACE NEWGALEXY LOCKHEED MARTIN 14 / CITY PROSPECTUS INVESTGLASGOW.COM \ 15

9 INNOVATING THE FUTURE There is a critical mass of expertise, passion and innovation in Glasgow today. Coupled with 21st century infrastructure and significant and sustained investment, there is no reason to doubt that Glasgow will continue to be at the forefront of discovery and application. AWARD WINNING INFRASTRUCTURE Glasgow is committed to establishing the centres of excellence required to tackle the challenges of the 21st century. Since 2011 there has been extensive development across housing, retail, health, leisure, education, hotels, offices, and industrial totalling 15 billion. THE TECHNOLOGY AND INNOVATION CENTRE THE IMAGING CENTRE OF EXCELLENCE The Queen Elizabeth University Hospital is the largest critical care complex in Western Europe which houses a number of cutting edge research and innovation facilities within its wider campus The Imaging Centre of Excellence sits on the Queen Elizabeth University Hospital campus and houses the UK s first ultra-high field 7 Tesla MRI scanner in a clinical setting The Technology and Innovation Centre is the University of Strathclyde s purpose-built facility where academics work in partnership with industry tenants #1 The International Financial Services District is a 1 billion award winning business location offering investors Grade A space and operating costs that are 40% lower than London The SSE Hydro was a key venue for the 2014 Commonwealth Games and is now the world s top indoor arena Billboard Chart Top 10 Venues Index The Commonwealth Games legacy means Glasgow s sporting infrastructure is now the largest in the UK outside London allowing the city to host elite competitions like the 2018 European Championships THE INTERNATIONAL FINANCIAL SERVICES DISTRICT THE QUEEN ELIZABETH UNIVERSITY HOSPITAL INNOVATION DISTRICTS Plans are underway in Glasgow to establish Scotland s first two innovation districts in the West End and Merchant City. Anchored by the Universities of Glasgow and Strathclyde, these districts will leverage local clusters to stimulate growth and maximise the benefits of existing high value industries including pharmaceutical manufacturing, distributed energy, photonics, bio-nano technology, and aerospace manufacturing. GLASGOW CITY REGION CITY DEAL The first of its kind in Scotland, the 1.13 billion City Deal is a joint funding scheme from the UK and Scottish Governments. It is set to significantly transform the metropolitan region over the next 20 years. The Glasgow City Region City Deal will fund major infrastructure projects, create thousands of new jobs and assist thousands of unemployed people back to work, improve public transport and connectivity, drive business innovation and growth, and generate billions of pounds of private sector investment. SMART, CONNECTED CITY Digital connectivity in Glasgow meets and exceeds the most demanding technology requirements and expectations of its modern business community. The Gigabit City fibre network is transforming the city s digital infrastructure, supporting internet connectivity speed of up to 100 times faster than the UK average. This state-of-the-art network will futureproof Glasgow as the demand for greater bandwidth continues to grow. Since Glasgow won Innovate UK s 24 million demonstrator project, the city has continued to charge ahead as one of Europe s leading smart cities. Enabling infrastructure and smart technologies enhance day-to-day living for citizens and businesses throughout the city. Glasgow is also paving the way for the next generation of the internet. A public-private collaboration has installed one of the world s most advanced Internet of Things networks and is driving the development of devices to monitor environmental conditions, track assets and support social care. Meanwhile, the University of Glasgow s Smart Campus programme is pioneering 5G technology. 16 / CITY PROSPECTUS INVESTGLASGOW.COM \ 17

10 LOCATION AND CONNECTIVITY Enontekio Glasgow straddles the famous Halifax River Clyde in west-central Scotland and sits at the centre Montreal of Scotland s only New metropolitan York region. With a population of 1.8 million the Glasgow city region is a key driver for both the Scottish and wider UK economies. Bergen As a result, Glasgow benefits from a well-developed transportation network that enables excellent connectivity. Las Vegas Glasgow is wonderfully Varadero connected making it easy to do business in the UK, Europe and beyond. Calgary Vancouver FLIGHT Halifax Montreal DESTINATIONS Toronto New York FROM Las Vegas GLASGOW AIRPORT Sal Boa Vista Island Sal Boa Vista Island Vancouver Las Vegas Sal Calgary Tenerife Tenerife Tenerife Las Palmas Las Palmas Orlando Miami North America & Caribbean Varadero Cayo Coco Halifax Cancun Holguin Montreal Toronto Montego Bay New York Bridgetown Madeira Madeira Cancun Montego Bay Varadero Cancun Fuerteventura Fuerteventura Madeira Montego Bay Fuerteventura Miami Lanzarote Cayo Coco Holguin Orlando Bridgetown Miami North America & Caribbean Faro Cayo Coco Holguin Lanzarote Lisbon Bridgetown Marrakesh Lisbon Lisbon Marrakesh Marrakesh Faro Faro Reykjavik Paris Sumburgh Bergen Munich Memmingen Salzburg Budapest Tallinn Kirkwall Oslo Stockholm Stornoway Benbecula Enontekio Rovaniemi Geneva Barra Bucharest Chambery Kittila Tiree Gothenberg Riga Bordeaux Milan Venice Varna Verona Pula Islay Turin Burgas Campbeltown GLASGOW Zadar Palanga Donegal Reykjavik Derry Billund Tampere Belfast Carcassonne Marseille Split Dubrovnik Isle of Man Gdansk Dublin Leeds Bradford Sumburgh Girona Manchester Bergen Rome Szczecin Barcelona Nottingham Tallinn Bydgoszcz Cork ReusEast Midlands Kirkwall Oslo Madrid Birmingham Naples StockholmModlin Berlin Poznan Kerkyra Stornoway Warsaw Amsterdam BenbeculaValencia Menorca Lodz Bristol Lublin Corfu Palma Bodrum Barra London Wroclaw Newquay Tiree Southampton Ibiza Cagliari Gothenberg Riga Kos Alicante Katowice Krakow Dalaman Rzeszow Malaga Murcia Islay Prague Zakinthos Island Rhodes Frankfurt Campbeltown GLASGOW Palanga Antalya Almeria Jersey Paphos Donegal Derry Billund Belfast Paris Larnaca Munich Chania Heraklion Isle of Man Memmingen Salzburg Gdansk Dublin Leeds Bradford Malta Budapest Manchester Szczecin Nottingham Bydgoszcz Dubai Cork East Midlands Enfidha Birmingham Modlin Geneva Berlin Poznan WarsawSharm el-sheikh Bucharest Chambery Amsterdam Abu Dhabi Lodz Bordeaux Bristol Lublin London Milan Venice Varna Verona Newquay Southampton Pula Wroclaw Turin Katowice Krakow Burgas Zadar Rzeszow Prague Frankfurt Jersey Carcassonne Marseille Split Dubrovnik Paris Girona Rome Munich Memmingen Barcelona Salzburg Budapest Reus Madrid Naples Kerkyra Malaga Madrid Malaga Valencia Bordeaux Alicante Murcia Almeria Barra Jersey Valencia Alicante Murcia Almeria Palma Ibiza Carcassonne Girona Barcelona Reus Palma Ibiza Menorca Amsterdam Enfidha Frankfurt Cagliari Rovaniemi Kittila Palanga Szczecin Bydgoszcz Enontekio Rovaniemi Modlin Berlin Poznan Warsaw Kittila Lodz Lublin Wroclaw Katowice Krakow Rzeszow Prague Tampere Menorca Geneva Corfu Bucharest Bodrum Chambery Cagliari Milan Venice Kos Varna Dalaman Turin Verona Pula Zakinthos Island Rhodes Zadar Burgas Antalya Paphos Marseille Split Larnaca Dubrovnik Chania Heraklion Malta Rome Enfidha Naples Malta Dubai Kerkyra Sharm el-sheikh Abu Dhabi Corfu Bodrum Kos Dalaman Zakinthos Island Rhodes Antalya Paphos Larnaca Chania Heraklion Sharm el-sheikh Dubai Abu Dhabi AIR Glasgow Airport is Scotland s principal longhaul airport. The airport has received significant investment resulting in increased passenger numbers, new routes and improved facilities. DIRECT FLIGHTS FROM NORTH AMERICA Visitors can travel direct to Glasgow from a number of destinations including: New York, Philadelphia, Orlando, Toronto, Calgary and Vancouver. DIRECT FLIGHTS FROM THE EAST Visitors can connect to Glasgow with ease using the twice daily Emirates flight direct from Dubai to Glasgow. LOCAL TRANSPORT NETWORKS Glasgow is an easy city to find your way around. Built on a grid system, it is compact to navigate, either on foot or by public transport. ROAD Scotland s trunk road and motorway network connects its cities, towns, airports and ports enabling the movement of people, goods and services. The roads are well maintained and, in general, the traffic density is lighter than other parts of the UK. Glasgow is served by four motorway systems which efficiently link the Glasgow city region and beyond. PLANE 150+ destinations worldwide Direct flights to North America, Europe, Asia and the Middle East 200+ flights daily 9.4 million passengers per year 30+ new routes for 2017 Frankfurt, Munich, Krakow and Madrid Most European destinations within 2 hour flight One-hour flying time and 438 flights per week to London Glasgow Prestwick Airport and Edinburgh Airport are both within 1 hour from Glasgow city centre TRAIN Central Station 38 million passengers per year Queen Street 750 million improvement programme 38 trains per day to London Euston 8 trains per hour to Edinburgh Edinburgh 50 mins Manchester 3 hrs 30 mins London 4 hrs 10 mins RAIL Glasgow is served by two main railway stations, Central Station and Queen Street Station, and has the largest suburban rail network outside of London. Regular connections to London and major English and Scottish cities makes travel throughout the UK simple. Glasgow city centre is also served by a subway and low level train system which links the city to outlying residential areas. 300 million refurbishment 15 stations SUBWAY Runs every 4 mins at peak times 13 million passengers annually BUS Buchanan Bus Station is the main bus terminus 16 million passengers per year 40,000 passengers a day 170 bus services in and out of Glasgow CAR Edinburgh 1hr 5 mins Manchester 3hrs 30 mins Birmingham 4 hrs 30 mins London 7hrs 20 mins AIRPORT CONNECTIONS TO THE CITY 15 MINS GLASGOW AIRPORT Shuttle bus from the airport direct to the city centre every 10 mins, with stops at major hotels Taxis are always available 45 MINS GLASGOW PRESTWICK Direct trains every 30 mins to city centre 1 HOUR EDINBURGH INTERNATIONAL A shuttle bus departs from Buchanan Street Bus station to and from Edinburgh International Airport every 30 mins Frequent bus/train links to Glasgow city centre every 15 mins Boa Vista Island Las Palmas Lanzarote 18 / CITY PROSPECTUS INVESTGLASGOW.COM \ 19

11 Flat 139,850 Terraced 182,022 COMPETITIVE BUSINESS ENVIRONMENT Glasgow is one of the most affordable locations in the UK and Europe. The city offers residents and businesses excellent value for money while delivering high quality of life and an exceptional business environment. AVG SALE PRICES Detached 263,546 Semi-detached 173,367 Registers of Scotland Quarterly statistics time series, Q Out of 20 major cities across the UK, Glasgow offers young professionals the highest level of disposable income. (CV Library 2016) Glasgow is one of the world s least expensive cities to post staff, ranking 161 on the global index (Mercer, 2017 Cost of Living Survey). Whereas London ranks 29th. Glasgow s average gross weekly wages are 49% lower than London City and 12% lower than Edinburgh. LOWER LABOUR COST THAN OTHER MAJOR EUROPEAN NATIONS Labour cost per hour Scotland/UK Ireland Germany Netherlands Source: Eurostat (2016) ( 1 = 0.89) France The average cost of renting a flat in Glasgow is 747 per month GLASGOW RENTAL COSTS PER MONTH bed 2 bed 764 1,066 3 bed CityLets, Q Glasgow is a price fighter in Europe with the cost of accommodation, visitor attractions, restaurants, museums and galleries providing excellent value for visitors and residents. Grade A office rents are typically 72% lower than London, 11% lower than Edinburgh, and 9% lower than Manchester. % Scotland/UK 19% 24% Italy Netherlands 25% Germany 29% KPMG, Corporate tax rates table 2017 France 33% 1,395 4 bed COMPETITIVE CORPORATION TAX RATE QUALITY OF LIFE Glasgow is a vibrant city where people chose to live and work. The cultural, sporting, shopping and dining capital of Scotland, there is something for everyone. You re never far from green space in Glasgow; the city has more green space per mile than any other UK city 3rd highest in UK for quality of life (Mercer 2017 City Rankings) Glasgow is a UNESCO City of Music home to national performing arts organisations and hosting as many as 130 music even each week Glasgow has a superb selection of first class housing including modern apartments, generously proportioned Victorian flats and traditional tenements. Leafy suburbs offer a range of family homes and a short commute The great Scottish outdoors is on your doorstep: the archipelago of the Clyde Coast and the Highlands stunning scenery are both just 45 minutes away Home to world renowned football and rugby clubs and Scotland s national football team The Finnieston area of Glasgow was voted the hippest place to live in Britain (Sunday Times) Glasgow is one of the best places to head to for culinary experimentation (Rough Guides list of must-see destinations 2017) Glasgow is the 5th Best Sporting City in the World and Glasgow is also a powerhouse when it comes to hosting elite sporting events such as the 2018 European Championships The fdi Intelligence Quality of Life ranks Glasgow higher than Los Angeles and Rome Two of the finest civic art collections in Europe can be found in Glasgow, at the Burrell Collection and Kelvingrove Art Gallery and Museum With more than half a million square metres of retail floor space, Glasgow is one of the UK s largest and most successful shopping locations outside of London. The city is home to an abundance of luxury outlets, high street staples and independent retailers 20 / CITY PROSPECTUS INVESTGLASGOW.COM \ 21

12 BUSINESS INCENTIVES AND SUPPORT If you are looking to invest in Glasgow, you will find a city that has taken a very proactive and innovative approach supporting the development industry in delivering the city s new infrastructure With over 15 billion in capital investment since 2011, Glasgow embraces new investment and works with partners to deliver a compelling offer. Invest Glasgow can assist you with: Finding the right site/location Identifying partners, investors, developers and operators Fast tracking major planning applications or key developments BUSINESS INCENTIVES Glasgow is open for your business. A range of business incentives and support is on offer to establish and grow your company in the city. Investment incentives (Regional Selective Assistance, Venture Capital Fund and Equity Funding) R&D and innovation grants Tax incentives including tax credits and Patent Box (pay up to 56% less corporation tax) Lowest corporation tax rate of the G20 countries Location and property advice Access to partners and networks Access to Scottish research capabilities Business development support Staffing and recruitment support and subsidies Dedicated aftercare INVEST GLASGOW Glasgow City Council s inward investment team provides one point of contact for all companies and investors interested in Glasgow. Invest Glasgow will work with you from initial inquiry to helping you set up in the city. To express your interest in Glasgow, please contact the Invest Glasgow team. invest@glasgow.gov.uk Invest Glasgow +44 (0) / CITY PROSPECTUS INVESTGLASGOW.COM \ 23

13 INTERESTED? FIND OUT MORE Top companies choose Glasgow for many reasons; because of the quality and loyalty of the flexible and qualified workforce, the cosmopolitan feel of a large city, great access and one of the most sophisticated and competitive telecommunications environments in Europe. Glasgow offers excellent, competitivelypriced leisure and retail spaces to suit every type and size of business and exciting development opportunities too. Invest Glasgow offers comprehensive business support and guidance, providing one point of contact to all businesses, property investors and developers seeking to invest in the city. All of this contributes to why Glasgow was recently named one Europe s top cities for business friendliness and connectivity, and fdi Magazine s runner up for FDI Strategy in the large cities category. Come and see for yourself. TO FIND OUT HOW INVEST GLASGOW CAN SUPPORT YOU, CONTACT: invest@glasgow.gov.uk Invest Glasgow +44 (0)