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King Sturge’s Scottish agency team has recently concluded a hat trick of Glasgow office deals, of behalf of landlords, Spectrum Properties, Clydeport and Joint Properties.
The most significant deal, concluded on behalf of Spectrum Properties sees the Complete Medical Group, a leading medical communications company and part of McCann Healthcare Worldwide, sign-up for an entire 3,242 sq ft historic townhouse at 18 Woodside Place in Glasgow. The lease term is five years, at an annual rental of £38,000 (£11.72 per sq ft). The Complete Medical Centre has relocated to Woodside Place from a nearby serviced business centre.
Commenting on the deal, Bill Roddie, Director of Spectrum Properties, owners of the building said: “Our investment into the refurbishment of this townhouse has been rewarded with the conclusion of this deal within only three months. We were able to satisfy the tenant’s need for quality space at competitive terms”.
Meanwhile at Clydeport’s 25 Blythswood Square, World Lab UK has agreed a three-year lease on an 865 sq ft second-floor front office suite. The stepped rental ranges from £13.50 to £15 per sq ft.
Finally, the Association of Scottish Visitor Attractions has signed-up for a 630 sq ft office suite at Joint Properties’ Epic House on Cadogan Street. The lease term is 5 years at an all inclusive annual rate which steps up from £4,500 (£7.15 per square ft) of £6,300 (£10 per sq ft).
“The recent deals signal positive news for the resilient Glasgow office market”, comments David Cobban from King Sturge in Glasgow. He added: “Landlords have reacted to the market’s demand for flexible commercial terms for good quality product".
King Sturge advised the landlords, whilst all tenants were self-represented. | 