Elphinstone Place
Encyclopedia
Elphinstone Place is a cancelled skyscraper
project that was scheduled to be built in Glasgow
, Scotland
. The building, which had been in the planning stage since 2004 would have been a mixed use development consisting of office, retail and residential. It was to be built on the site of the former Strathclyde Regional Council Headquarters.
In July 2008 The developers Elphinstone announced that the building had been cancelled due to the difficulties arising from the Subprime mortgage crisis
, with one of the main financial backers of the project being the failed Lehman Brothers
. Although ground work had been completed for the tower it was indicated by the developer that a "fall-back project is not in place" for the site.
At 39-stories the structure would have been the tallest building in both Glasgow and Scotland
. The building would have been situated at the western end of Blythswood Hill
on the edge of Glasgow's financial district (IFSD
).
Skyscraper
A skyscraper is a tall, continuously habitable building of many stories, often designed for office and commercial use. There is no official definition or height above which a building may be classified as a skyscraper...
project that was scheduled to be built in Glasgow
Glasgow
Glasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
, Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
. The building, which had been in the planning stage since 2004 would have been a mixed use development consisting of office, retail and residential. It was to be built on the site of the former Strathclyde Regional Council Headquarters.
In July 2008 The developers Elphinstone announced that the building had been cancelled due to the difficulties arising from the Subprime mortgage crisis
Subprime mortgage crisis
The U.S. subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backed by said mortgages....
, with one of the main financial backers of the project being the failed Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
. Although ground work had been completed for the tower it was indicated by the developer that a "fall-back project is not in place" for the site.
At 39-stories the structure would have been the tallest building in both Glasgow and Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
. The building would have been situated at the western end of Blythswood Hill
Blythswood Hill
Blythswood Hill is an area of Glasgow, Scotland.It lies to the immediate west of the city centre and as the name suggests rises to a plateau before dipping again towards the west end area of Woodlands....
on the edge of Glasgow's financial district (IFSD
International Financial Services District
The International Financial Services District is a ten year project within the city of Glasgow in Scotland to create a highly attractive inward investment location for leading international financial services companies and a re-location option for existing Glasgow-based companies, seeking to...
).