A Glasgow office building — that was once Scotland’s biggest tobacco factory — has landed two of the city’s biggest letting deals of the year.
The largest of the twin signings involves American computer and technology company, Dell. It already has 550 business-to-business contact centre staff at the CityPark building and was the original anchor tenant when the refurbished complex first re-opened.
At the time, persuading the Texas-based company to move to Glasgow was seen as a major achievement for the Scottish Government. Dell has now agreed a new 10-year lease for 54,518 sq ft of office space on the second floor of the former cigarette factory.
In a separate letting, secured by property adviser Lambert Smith Hampton (LSH), Webhelp UK — which operates out of 58 locations, including six in Scotland — has agreed a five-year lease on 35,000 sq ft on the first floor of the building.
Both deals are seen as a significant boost for asset manager, APAM, following its multi-million pound investment in refurbishing the property that included upgrades to the entrance hall, reception area and a re-launch of the building last year.
“I am delighted Dell remains committed to Scotland and importantly to CityPark,” commented APAM’s executive director, William Powell. “It is a significant agreement and, alongside Webhelp UK’s decision to re-locate, the deals are a major coup for us. It proves CityPark is going from strength to strength as a key business location in Scotland.”
His company recently announced it is will be adding a new a café, shop, barber’s shop, physiotherapist, and a children’s nursery to the existing amenities at CityPark.
Aasia Mohammad at LSH said: “Webhelp UK’s relocation highlights the flexibility and appeal of CityPark as a key business venue in Glasgow. That coupled with Dell’s decision to enter into a new long-term lease agreement provides a very positive start to 2015 for the building and for the commercial property market in Glasgow in general.”
Other tenants at CityPark, located on the edge of the city centre and close to the M8 motorway, include plant hire company Aggreko and Glasgow City Council. There is still around 60,000 sq ft available within the five-storey building, which has space for around 2,000 staff.
William Powell at of APAM explained: “The high spec and adaptable space available at CityPark presents the perfect opportunity for businesses looking to relocate or expand. I am confident the development will prove popular with occupiers looking for excellent value for money, location and accessibility.”