PwC has signed for two floors of investor Forma Real Estate Fund and developer HFD Property’s Aurora in Glasgow.
The professional services firm has taken a 15-year lease for 26,250 sq ft across the two top floors of the recently refurbished building at 120 Bothwell Street. It will pay £37.50 per sq ft, which equates to £970,762 per year.
Robin McBurnie, PwC’s market senior partner for Glasgow, described the building as one of the “finest examples of truly sustainable commercial spaces within the city centre”.
The building has achieved net zero in operation, EPC A+, BREEAM Excellent and a 77.4% reduction in carbon emissions compared to an equivalent new-build property.
McBurnie highlighted these sustainability credentials as one of the driving factors behind PwC’s decision to lease space in the building, which he said “closely aligns” with the company’s ethos and ambitions around net zero.
Aurora provides 175,000 sq ft of grade-A office space in Glasgow’s central business district. With four deals completed, the building has now reached 37.2% occupancy.
Ben Dickins, head of asset management (UK) at Forma Real Estate Fund, said signing a “global brand like PwC” was a “testament to the quality of the refurbishment work at Aurora and the building’s position in the Glasgow market”.
Stephen Lewis, managing director at HFD Property, added: “Sustainability has been one of the guiding principles of the refurbishment project so it’s no surprise that we have achieved not just these deals that have already concluded but the wider interest in the building.”
Other recent deals in the building include a 7,389 sq ft letting to engineering firm Arcadis at a rent of £38.50 per sq ft.
CBRE and MC2 advised Forma on the deal; Savills acted for PwC.
Image from Forma Real Estate Fund
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