Deloitte Real Estate has shortlisted two rival speculative office developments in Glasgow for a potential new Scottish headquarters.
The company is eyeing Mountgrange’s and M&G Real Estate’s 143,000 sq ft 1 West Regent Street (pictured), which is under construction at present, and BAM’s 163,000 sq ft 110 Queen Street .
Rents at both buildings are around £28.50 per sq ft.
Deloitte Real Estate has a circa 25,000 sq ft requirement ahead of a lease break in 2015 at its existing offices at Redevco’s George House on George Square.
Mountgrange and M&G have landed their first leisure tenants on the ground floor of 1 West Regent Street.
Giraffe has signed for a 3,600 sq ft café on a 15-year lease at £30 per sq ft, while Busaba plans to make its Scottish debut with a 4,000 sq ft restaurant. Terms are yet to be finalised.
GVA James Barr and Jones Lang LaSalle are office agents at 1 West Regent Street; Culverwell and CBRE are leisure and retail advisers; Cushman & Wakefield and Phil Reid Associates are joint letting agents on 110 Queen Street.
Listen here to a full interview with Stewart Forsyth, development director at Mountgrange or download Mountgrange talks spec at 1 West Regent Street, Glasgow from Estates Gazette’s iTunes store.
