Abstract Glasgow sale

31 October, 2017

Screen Shot 2017-10-31 at 08.36.04.png

In one of the largest investment transactions in Scotland in recent years, a vehicle associated with Starwood Capital Group, a private investment firm, has acquired the entire share capital of Abstract (Glasgow) Limited, the company which developed and owns the St Vincent Plaza office development in Glasgow.  Terms of the transaction were not disclosed.

The 12 storey BREEAM excellent EPC A office building which comprises 172,307 sq ft is multi let to a range of occupiers including KPMG, Whyte and Mackay, Scottish Ministers, Mott Macdonald, Wood Group and Zurich Insurance. 

The building was completed in late 2015 and is located in a prominent position on St Vincent Street opposite the new HQ for Scottish Power. There are strong levels of interest in the two remaining floors.  

Mark Glatman, Chief Executive of Abstract commented: “St Vincent Plaza is the third of our ‘Uncompromising Value’ series of office buildings and it is always satisfying to see the outcome of a good project.  We are delighted that Starwood has recognised the quality of this building and the strong and diverse income stream we have created from the fantastic range of tenants who have been attracted to the property.’’

Christopher McPherson, Development Director added: “We have been working on this project for a number of years and it is great to see the stewardship of the property move to the next stage. The remaining floors in the building are the best new office space left in Glasgow and with no new development likely to come on stream for at least 2 or 3 years we are confident that it will fully let up soon.’’

James Fogarty, Vice President for Starwood Capital Group said “We are excited about the acquisition of St Vincent Plaza which is the first European acquisition for our recently established vehicle focussed on Value Add opportunities. St Vincent Plaza is a well-designed, high quality asset in a strong location with good transportation links – all of which has helped to deliver the very strong tenant roster. Glasgow has very limited Grade A vacancy, almost no new supply, and will continue to be a strong occupational market for the right asset.”

Lambert Smith Hampton and CMS acted as financial advisors to Starwood Capital Group.  Pinsent Masons acted for the shareholders of Abstract (Glasgow) Limited.

 

For more information contact:-

 

Mark Glatman – Abstract Securities Limited

mark.glatman@abstractsecurities.com

020 7747 8272

 

Tom Johnson or Pat Tucker for Starwood Capital Group

tbj@abmac.com/pct@abmac.com

+1 (212) 371-5999

 

Notes to editor:

Over the past 5 years Abstract has built or has under construction over 1 million sq.ft. of net lettable offices across the UK, together with a major office refurbishment of 250,000 sq.ft. making it one of the country’s largest regional developers. The Group undertakes development as a principal speculatively and for end users. Abstract also acts as a development manager under design and build arrangements and in joint venture partnerships.

 

Abstract has gained a strong reputation for delivering award winning schemes, including its new range of “uncompromising value” offices.  These buildings deliver high specification, Grade A space with top environmental credentials (BREEAM Excellent and EPC ‘A’ rated) with a tight design and procurement process, offering occupiers the best value and cost per workstation of any modern offices in their local market.

 

Starwood Capital Group is a private alternative investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 10 offices in four countries around the world, and currently have more than 3,400 employees. Starwood Capital Group has raised over $42 billion of equity capital since its inception in 1991, and currently manages more than $54 billion in assets. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 26 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com

Posted on October 31, 2017 .

ZURICH CHOOSES ABSTRACT IN GLASGOW

31 October, 2017

Screen Shot 2017-10-31 at 08.24.17.png

Zurich Insurance is the latest global occupier to commit to Abstract’s St Vincent Plaza office development scheme in Glasgow.

The business is relocating its office from The Eagle Building in Bothwell Street in mid-2018 and will take the entire 7th floor of the development comprising 17,222 sq ft on a new 10 year lease.

St Vincent Plaza is a speculative ‘Grade ‘A’ office development of 172,307 sq ft arranged on lower ground, ground and 10 upper floors. The building occupies a prominent position in Glasgow City Centre and has been designed to support highly efficient day one occupancy levels from 1 person per 6 sq.m.

With a BREEAM ‘Excellent’ and EPC ‘A’ environmental accreditation, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted that Zurich has chosen St Vincent Plaza.  They join KPMG, Whyte and Mackay, Wood Group, Mott Macdonald and the Registers of Scotland to add to an impressive list of occupiers in the building and we are now down to only two floors remaining.  With no new speculative space under construction in the City, the choice for occupiers in the City is becoming very limited.’’

Christopher McPherson, Development Director of Abstract said, ‘’The letting to Zurich takes our total occupancy in Glasgow to 85% and further demonstrates the success of our ‘uncompromising value’ approach to office development which has been very well received by an impressive line-up of major corporate end users in Glasgow and in our other schemes throughout the UK.’’

 

 

Joint agents for St Vincent Plaza are CBRE and Ryden.

JLL represented Zurich.

 

For more information visit www.stvincentplaza.com

Image shows:  St Vincent Plaza

-Ends-

 

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

 

 

 

Notes to Editor:

Over the past 5 years Abstract has built or has under construction over 1 million sq.ft. of net lettable offices across the UK, together with a major office refurbishment of 250,000 sq.ft. making it one of the country’s largest regional developers. The Group undertakes development as a principal speculatively and for end users. Abstract also acts as a development manager under design and build arrangements and in joint venture partnerships.

 

Abstract has gained a strong reputation for delivering award winning schemes, including its new range of “uncompromising value” offices.  These buildings deliver high specification, Grade A space with top environmental credentials (BREEAM Excellent and EPC ‘A’ rated) with a tight design and procurement process, offering occupiers the best value and cost per workstation of any modern offices in their local market.

 

St Vincent Plaza is a 172,307 sq ft building arranged on lower ground, ground and 10 upper floors.  The building achieved a BREEAM excellent and EPC A rating.  With the letting to Zurich, committed rent on the building is now £3.818m per annum, approaching 90% of the target rent.  Only the ground floor, 12008 sq ft, and the first floor, 14902 sq ft remain to be let.

 

www.abstractsecurities.com

 

Posted on October 31, 2017 .

WOOD GROUP SIGN UP TO ABSTRACT IN GLASGOW

7 March 2017

Wood Group is the latest occupier to commit to Abstracts’ St Vincent Plaza office scheme in Glasgow; joining confirmed tenants including KPMG, Whyte and Mackay, Mott MacDonald and Registers Of Scotland at the building, which was completed in late 2015.

Wood Group’s clean energy business, SgurrEnergy, will occupy the second floor of the development comprising 17,249 sq ft from March 2017 on a long-term lease. 

St Vincent Plaza is a speculative ‘Grade A’ office development of 172,280 sq ft arranged on lower ground, ground and 10 upper floors. The building occupies a prominent position in Glasgow city centre and has been designed to support highly efficient day one occupancy levels.

With a BREEAM ‘Excellent’ environmental accreditation, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted to welcome Wood Group to St Vincent Plaza so soon after announcing the letting to Mott MacDonald. They are a perfect fit in our existing tenant line up and are precisely the type of occupier we had in mind during the design stage of the development who will benefit from our good base build specification, strong environmental credentials and uncompromising value.  The building is now 75% let.’’

Christopher McPherson, Development Director of Abstract said, “ “Interest levels in the remaining space at St Vincent Plaza remain strong and we are down to our last three floors including arguably the best office floor on the market in the City on our 7th level where the views are fantastic.’’

Joint agents for St Vincent Plaza are CBRE and Ryden.

 

GVA acted for Wood Group.

For more information visit www.stvincentplaza.com

Image shows:  St Vincent Plaza

-Ends-

 

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

 

 

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman. The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

Posted on March 7, 2017 .

ABSTRACT ATTRACTS MOTT MACDONALD IN GLASGOW

9 February 2017

In the largest letting in Scotland since the EU referendum, global management, engineering and development consultancy, Mott MacDonald, has concluded terms to move to Abstract’s St Vincent Plaza office scheme.

The business is relocating its office from 1 Atlantic Quay in mid-2017 and will take the entire 5th and 6th floors of the development comprising 34,515 sq ft on a new 15 year lease from February 2017. 

Plans for their fit out are well advanced and it is envisaged that work will begin shortly in advance of occupation in the summer.

St Vincent Plaza is a speculative ‘Grade A’ office development of 172,280 sq ft arranged on lower ground, ground and 10 upper floors. The building occupies a prominent position in Glasgow City Centre and has been designed to support highly efficient day one occupancy levels from 1 person per 6 sq. m.

 With a BREEAM ‘Excellent’ environmental accreditation, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted to welcome Mott MacDonald to St Vincent Plaza.  They join KPMG, Whyte and Mackay and the Registers of Scotland to add to an impressive list of occupiers in the building who see the fantastic quality of space we offer at such a competitive value”.

Mott MacDonald’s Andrew Oldfield said: “We have been based in Glasgow for over 70 years and have been involved in some of the City’s most recognised infrastructure, including the Clyde Tunnel, Prestwick Airport and Strathclyde Light Rail.  We also supported the successful delivery of the Glasgow Commonwealth Games in 2014.

With almost 400 employees in the city we’re involved in projects across a diverse range of sectors including environment, power, water and transport, as well as buildings and infrastructure, working with clients such as Transport Scotland, Glasgow City Council and Scottish Water.  Moving to St Vincent Plaza will provide a modern working environment for our staff and support our growth for years to come,” Andrew added.

Christopher McPherson, Development Director of Abstract said, “It is great that Mott MacDonald have taken space here after a very thorough process and this is the second time we have let space to them in our new office developments in recent years.

We have experienced a significant uplift in occupier interest in recent weeks and with no other new development taking place in the City in the foreseeable future, Grade A options for businesses looking to move within Glasgow are extremely limited.  I don’t doubt that we will make further announcements soon.

This location is buzzing.  The Scottish Power HQ is now complete and are moving in.  We are now down to our last floors and prospective tenants will not have the opportunity to take new space offering this combination of quality and value again.”

Joint agents for St Vincent Plaza are CBRE and Ryden.
Savills represented Mott MacDonald.
For more information visit www.stvincentplaza.com
Image shows:  St Vincent Plaza

-Ends-

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman, The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

Posted on February 9, 2017 .

ABSTRACT DELIVERS COFFEE REPUBLIC

8 December 2016

Mark Glatman’s Abstract has completed another deal at its St Vincent Plaza development in Glasgow by letting the entire retail offering in the building to Coffee Republic.

Coffee Republic is a leading coffee and fresh food chain with 25 outlets in the UK and a further 18 worldwide.

The retail space comprises a unit of 2,136 sq ft sq. ft. which is being taken on a new 10 year lease. It is envisaged that fit out work will begin shortly in advance of occupation in early 2017.

St Vincent Plaza is a speculative ‘Grade A’ office development of 172,272 sq. ft. arranged on lower ground, ground and 10 upper floors, which was completed late in 2015. The building is in a prominent position close to major transport routes in the centre of Glasgow and is now the new headquarters for KPMG in the City as well as Whyte and Mackay and Registers of Scotland.

With a BREEAM ‘Excellent’ environmental accreditation, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Christopher McPherson, Development Director of Abstract said, “Coffee Republic is a welcome addition to St Vincent Plaza.  We already have a significant amount of people working from the building and the quality coffee and food offering provided by Coffee Republic will be very complementary to the wider tenant experience.   This part of Glasgow City Centre continues to expand with completion of the new Scottish Power HQ opposite us last week and the first of 1,850 staff expected to start moving into the building imminently.  The letting to Coffee Republic is a further demonstration of the growing strength of this part of the City.

Interest levels remain strong in the remaining floors in the building. Our current occupiers have been attracted to St Vincent Plaza by the quality of space, competitive pricing point and first class transport connections.  There will be no new office schemes delivered in Glasgow in the foreseeable future and we remain one of very few options for occupiers looking for new space in the City Centre’’

Joint agents for St Vincent Plaza are CBRE and Ryden.

Colliers International represented Coffee Republic.

For more information visit www.stvincentplaza.com

Image shows:  St Vincent Plaza

-Ends-

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman, The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

Posted on December 8, 2016 .

ABSTRACT REGISTERS NEW GLASGOW LETTING

1st Feb 2016

Abstract has completed another letting at its St Vincent Plaza development in Glasgow to a public sector body. The building will be occupied as the new Glasgow base for Registers of Scotland (RoS), a non-ministerial government department, and follows hot on the heels of recent lettings to Whyte and Mackay and KPMG.

RoS will relocate from Hanover House in Douglas Street and will take the entire third floor of the development comprising 17,294 sq. ft. on a new 15 year lease from January 2016.

It is envisaged that fit out work will begin in the coming months, with RoS moving in the second half of 2016. 

St Vincent Plaza is a speculative ‘Grade A’ office development of 172,280 sq. ft. arranged on lower ground, and 10 upper floors, that was completed late in 2015. The building occupies a prominent position in Glasgow City Centre and has been designed to support highly efficient occupancy levels from day one.

With a BREEAM ‘Excellent’ environmental accreditation and an EPC B rating, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted to add Registers of Scotland to our list of fantastic occupiers at St Vincent Plaza. There are some big uncertainties in the world at the current time but the Abstract approach to development, offering a great quality ‘Grade A’ office at a really competitive pricing point, continues to appeal to occupiers who want uncompromising value from their operational property and who see that Abstract buildings create an asset to their businesses rather than just an overhead.”

Sheenagh Adams, Keeper of the Registers of Scotland, said: “This is a fantastic office space that will bring us significant improvements – the space is more flexible, and will reduce our carbon footprint by more than 50 per cent. This new space will support our digital transformation, helping us to deliver the products and services that Scotland needs from RoS.”

Christopher McPherson, Development Director of Abstract Securities said, “The letting to Registers is a further positive endorsement of this development. We have let almost 75,000 sq ft in the last few weeks and interest levels remain strong. We are now the only building in the City which can offer close to 100,000 sq ft of new ‘Grade A’ space in a variety of sizes.

“Prospective tenants will not have the opportunity to take new space offering this combination of quality and value again – our pricing point is less than much of the second hand stock in the City.

“There is a lot of talk about new schemes in Glasgow but no-one is actually building. Our message to occupiers is don’t delay coming to talk with us if you have office requirements in the next two years or you will probably miss the boat.’’ 

Joint agents for St Vincent Plaza are CBRE and Ryden. Cushman & Wakefield represented Registers of Scotland. For more information visit www.stvincentplaza.com
Image shows: St Vincent Plaza, Glasgow.

-Ends-

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman, The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

St Vincent Plaza, Glasgow, a 172,280 sq ft. speculative Grade A office space completed in late 2015. It remains the most competitive new City Centre office development within the UK, with rents from just £23 per square foot. www.stvincentplaza.com

The Leonardo Building at Manor Royal just south of Gatwick Airport is a 4 storey 110,545 sq. ft. speculative office building completed in December 2015. The entire building was pre-let to Virgin Atlantic Airways in May 2015 and the resultant investment sold to F&C Commercial Property Trust in July 2015 for £45.342m. www.theleonardobuilding.com

The first phase of Aberdeen International Business Park is designed to accommodate around 2,400 employees with 1,200 car parking spaces and besides a variety of catering options, includes a gym, a sports hall, 2 squash courts, a medical facility, a nursery/crèche and a shop. Abstract agreed Scotland's biggest letting deal ever with the Norwegian company Aker Solutions on 335,000 sqft of office space in Summer 2014. The resultant investment was sold to Legal & General in October 2014 for a price in excess of £127m making this the second largest investment deal in Scotland for 2014. www.aibp.co.uk.

Renaissance, Croydon provides 100,000 sq. ft. of 'Grade A' office accommodation comprising five floors offering flexible floor plates of 20,000 sq. ft. Completed in late 2013 the building is one of the first speculative builds in the UK to achieve a BREEAM (2011) 'Excellent' standard and won a national award for Sustainable Achievement. The offices were fully let within 10 months of completion and the completed investment sold to M&G UK Property Fund. www.renaissancecroydon.com

About Registers of Scotland

Registers of Scotland (RoS) is the non-ministerial government department responsible for compiling and maintaining 17 public registers. These relate to land, property, and other legal documents.

RoS is working to make their services greener, faster and more efficient than ever before, an ambition that is being progressed by their digital transformation project, changing RoS from a largely paper-based organisation to one that does everything digitally in the first instance.

Their current projects include completing the land register and launching a new land and property information service, ScotLIS. 

Posted on February 1, 2016 .

KPMG COMMITS TO ABSTRACT IN GLASGOW

18 November 2015

Professional services firm KPMG has concluded an agreement to lease the top three floors at Abstract’s St Vincent Plaza development in Glasgow.

The global business has committed to relocate from 191 and 163 West George Street in 2016 and will take the entire 8th, 9th and 10th floors of the development comprising 39,705 sq. ft. on a new 15 year lease without break (with an option to extend) from January 2016.

It is envisaged that their fit out work will begin early in 2016 in advance of occupation in the Autumn.

Around 350 of KPMG’s Glasgow-based staff will move to St Vincent Plaza. The firm also employs more than 175 people at its UK Tax Centre of Excellence at 123 St Vincent Street in the city.

St Vincent Plaza is a speculative ‘Grade A’ office development of 172,280 sq. ft. arranged on lower ground, ground and 10 upper floors, which was completed in September. The building occupies a prominent position in Glasgow City Centre and has been designed to support highly efficient day one occupancy levels from 1 person per 6 sq. m.

With a BREEAM ‘Excellent’ environmental accreditation and an EPC B rating, the development provides the most cost effective new build city centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted to welcome KPMG to St Vincent Plaza. This is a huge endorsement of the Abstract approach to development and to our commitment to this location in the City and the outstanding value and quality offered by this building.

“KPMG joins a great list of occupiers we have secured in our developments across the UK over the last three years including Virgin Atlantic, The Pension Protection Fund, Talk Talk, Aker Solutions, Whyte and Mackay and several others who see the benefits of the buildings we create as an asset to their businesses rather than simply as an overhead.”

Craig Anderson, Senior Partner for KPMG in Scotland said ”This investment in larger, state- of-the-art offices, in a stunning location, signals our confidence in the plans for further growth of our business in Scotland. We continue to expand the range of offerings we have alongside our core areas of expertise.”

Christopher McPherson, Development Director of Abstract said, “We have had significant occupier interest in this development since completion and it is fantastic that KPMG have seen the merits of our building over the other options available to them after an extensive due diligence process. It is particularly good to be able to confirm this letting so soon after Whyte and Mackay committed to the 4th floor and I believe we will fill the remaining space soon.

“Occupiers in Glasgow are waking up to the fact that there are no new schemes which can be delivered in the City until at least 2018/2019 and that assumes a start on site today. Existing Grade A offices are disappearing fast.

“The quality of our scheme coupled with a pricing point which is below some second hand space in the City, is resulting in strong interest - we could let the remainder of the building twice over based on current enquiries. Prospective tenants will not have the opportunity to take new space offering this combination of quality and value again.”

Joint agents for St Vincent Plaza are CBRE and Ryden. Knight Frank represented KPMG.

For more information visit www.stvincentplaza.com Image shows: St Vincent Plaza
-Ends-

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

For KPMG, please contact:
Phil Addicott, The BIG Partnership, 07824 666956 phil.addicott@bigpartnership.co.uk

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman, The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

St Vincent Plaza, Glasgow, a 172,280 sq ft. speculative Grade A office space completed in late 2015. It remains the most competitive new City Centre office development within the UK, with rents from just £23 per square foot. www.stvincentplaza.com

The Leonardo Building at Manor Royal just south of Gatwick Airport is a 4 storey 110,545 sq. ft. speculative office building currently under construction with completion scheduled for December 2015. The entire building was pre-let to Virgin Atlantic Airways in May 2015 and the resultant investment sold to F&C Commercial Property trust in July 2015 for £45.342m. www.theleonardobuilding.com

The first phase of Aberdeen International Business Park is designed to accommodate around 2,400 employees with 1,200 car parking spaces and besides a variety of catering options, includes a gym, a sports hall, 2 squash courts, a medical facility, a nursery/crèche and a shop. Abstract agreed Scotland's biggest letting deal ever with the Norwegian company Aker Solutions on 335,000 sqft of office space in Summer 2014. The resultant investment was sold to Legal & General in October 2014 for a price in excess of £127m making this the second largest investment deal in Scotland for 2014. www.aibp.co.uk.

 

Renaissance, Croydon provides 100,000 sq. ft. of 'Grade A' office accommodation comprising five floors offering flexible floor plates of 20,000 sq. ft. Completed in late 2013 the building is one of the first speculative builds in the UK to achieve a BREEAM (2011) 'Excellent' standard and won a national award for Sustainable Achievement. The offices were fully let within 10 months of completion and the completed investment sold to M&G UK Property Fund. www.renaissancecroydon.com

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Posted on November 18, 2015 .

ABSTRACT TOASTS WHYTE AND MACKAY

12 November 2015
Screenshot 2015-11-12 12.50.21.png

Whyte and Mackay have concluded an agreement to become the first occupier to lease space at Abstract’s St Vincent Plaza development in Glasgow.

The Company has committed to relocate from Dalmore House in early 2016 and will take the entire 4th floor of the development comprising 17,726 sq ft. Fit out work will begin shortly.

St Vincent Plaza is a brand new speculative ‘Grade A’ office development of 172,280 sq ft arranged on lower ground, ground and 10 upper floors. The building occupies a prominent position in Glasgow City Centre and has been designed to support highly efficient day one occupancy levels from 1 person per 6 sq m.

With a BREEAM ‘Excellent’ environmental accreditation and an ‘EPC B’ rating, the development provides the most cost effective new build City Centre office accommodation anywhere in the UK.

Mark Glatman, Chief Executive of Abstract, commented: “We are delighted to welcome Whyte and Mackay as our first tenant at St Vincent Plaza. The building is of the highest quality and the views, even from the lower floors, are stunning. We strongly believe that our developments need to be an asset to our occupiers, not just an operational overhead, and we are confident that we have created the perfect example here – brilliant flexible space, great environmental credentials, and a really competitive pricing point”. 

Bryan Donaghey, Chief Executive of Whyte and Mackay, said: “We will be relocating in Spring 2016, leaving our existing building across the road which we have occupied for over 25years. Our relocation was necessitated by the need to upgrade the quality of our working environment for both our staff and our customers. St Vincent Plaza’s close proximity to our existing offices, combined with its large open floor plans, views around the city, and excellent environmental ratings made the decision for us. We are very excited about the move and will be undertaking a state of the art fit out to meet the needs of our global business.“

Christopher McPherson, Development Director of Abstract said: “Occupier interest in Glasgow has been very strong through 2015 and the number of current enquiries for the City far outweigh the availability of ‘Grade A’ offices – space is letting up fast and there have been no new build starts so the next new building is probably around 3 years away."

“Interest levels in St Vincent Plaza since we completed the development have been extremely encouraging and the comments that we have received following viewings of the property are overwhelmingly positive in terms of the quality of the building itself and the accessibility of the immediate location.

“Scottish Power are due to complete their HQ opposite us in 2016 and with Santander adjacent, and a number of other significant occupiers in close proximity this is the fastest developing office location in the City. We fully expect further letting announcements to follow very soon”.

Joint agents for St Vincent Plaza are CBRE and Ryden. GVA James Barr represented Whyte and Mackay.
For more information visit www.stvincentplaza.com

Image shows: St Vincent Plaza, Glasgow a 172,280 sq ft speculative ‘Grade A’ office space completed in late 2015. It remains the most competitive new City Centre office development within the UK, with rents from just £23 per square foot

-Ends-

For media information, please contact Pauline Gregory on 07833 490964 / pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 / lisa@skylarkpublicrelations.com

Notes to Editor:

The Abstract Group of Companies was established in April 2000 by Mark Glatman. The management team at Abstract brings together combined experience of over 7 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements. www.abstractsecurities.com

St Vincent Plaza, Glasgow, a 172,280 sq ft speculative ‘Grade A’ office space completed in late 2015. It remains the most competitive new City Centre office development within the UK, with rents from just £23 per square foot. www.stvincentplaza.com

The Leonardo Building at Manor Royal just south of Gatwick Airport is a 4 storey 110,545 sq ft speculative office building currently under construction with completion scheduled for December 2015. The entire building was pre-let to Virgin Atlantic Airways in May 2015 and the resultant investment sold to F&C Commercial Property trust in July 2015 for £45.342m. www.theleonardobuilding.com

The first phase of Aberdeen International Business Park is designed to accommodate around 2,400 employees with 1,200 car parking spaces and besides a variety of catering options, includes a gym, a sports hall, 2 squash courts, a medical facility, a nursery/crèche and a shop. Abstract agreed Scotland's biggest letting deal ever with the Norwegian company Aker Solutions on 335,000 sq ft of office space in Summer 2014. The resultant investment was sold to Legal & General in October 2014 for a price in excess of £127m making this the second largest investment deal in Scotland for 2014. www.aibp.co.uk.

Renaissance, Croydon provides 100,000 sq. ft. of 'Grade A' office accommodation comprising five floors offering flexible floor plates of 20,000 sq. ft. Completed in late 2013 the building is one of the first speculative builds in the UK to achieve a BREEAM (2011) 'Excellent' standard and won a national award for Sustainable Achievement. The offices were fully let within 10 months of completion and the completed investment sold to M&G UK Property Fund. www.renaissancecroydon.com

Whyte & Mackay

Whyte & Mackay was founded on the docks of Glasgow in 1844 by James Whyte and Charles Mackay, who had a mission to create a truly Scottish blended whisky. This partnership laid the foundations for the company’s continued growth over the next century, with the company now producing and distributing some of the most highly-awarded and respected whisky and spirit brands.

The multi-award winning portfolio includes its flagship Whyte & Mackay Blended Whisky, The Dalmore Highland Single Malt, Jura Single Malt Scotch Whisky, Fettercairn, Glayva Liqueur, and Mackinlay’s. The company also distributes Flor de Caña and RumChata in the UK.

Whyte & Mackay Ltd operates in the heart of Glasgow where they have been for over 170 years. The company employs over 470 people across the world, and owns 5 distilleries and a state of the art bottling plant. 

Posted on November 12, 2015 .

THE TEAM

24 July 2015
The idea behind the photography was to show a variety of trades and occupations involved in building St Vincent Plaza and produce an archive of faces and details to personalise the building.

Some of the lighting and poses were based on fashion photography from the 1940s and ‘50s, and the four large ‘Abstract’ prints are inspired by work from German/American photographer Horst P Horst.
— Iain McLean, Photographer
Posted on July 24, 2015 .

ABSTRACT LAUNCHES ST VINCENT PLAZA, GLASGOW

18 June 2015

Abstract (Glasgow) Ltd today (18 June) launches St Vincent Plaza in Glasgow, one of the UK's largest and most cost-effective speculative office developments.

Today's launch is marked with a unique photography exhibition entitled 'The team that built St Vincent Plaza'; a striking series of portraits of the men and women involved in designing, building and project managing the scheme, as well as a fascinating collection of detail images from throughout the building. The photographs are by Glasgow photographer, Iain McLean.

St Vincent Plaza is a landmark development, located on St Vincent Street within the International Financial Services District (IFSD) and opposite the new HQ for Scottish Power. Set for a shell and core completion on 29 June 2015 with the handover of a ‘Category A’ fit-out in September, it will have an end investment value of £75m and be able to accommodate up to 2,600 staff. Rents from just £23 per sq. ft. are significantly lower than standard headline rents in the City, making St Vincent Plaza considerably more cost-effective than other Glasgow 'Grade A' schemes, both in terms of rent and occupational costs.

Mark Glatman, Chief Executive of Abstract, said: “Today's launch of St Vincent Plaza marks our completion, on time and to budget, of our first development in Glasgow, which is also one of the largest and most cost-effective in the UK. Our scheme represents a superb opportunity for occupiers - whether local or from further afield - to take space in the City at rents from only £23 per sq. ft. in London-quality space, as our competitors' rents are significantly higher and the Glasgow pipeline is fast diminishing. 

“To launch St Vincent Plaza we not only wanted to showcase the building itself, which is built to an exceptional specification, but to recognise the men and women who have worked tirelessly to create this scheme. The many teams involved are represented throughout the series of portraits, which is an unusual opportunity to look beneath the skin of a building and at the people who are behind it. We are proud to have built St Vincent Plaza in Glasgow, which is a thriving and hard-working city, and to have worked alongside the teams and companies that are represented by this exhibition.”

St Vincent Plaza delivers an extremely high specification and comprises a lower ground, ground and ten upper floors of office space together with 78 car parking spaces. The building offers flexible, virtually column-free floorplates of 17,000 sq ft; a feature penthouse office level with terrace, and some of the best views in the City. It has been designed to a BREEAM ‘Excellent’ standard and an EPC 'B' rating and provides some of the most efficient and environmentally friendly office accommodation in Glasgow.

In addition, Abstract is creating a new £1.2m landscaped public space that will link William Street to St Vincent Street, improving access to the IFSD and all that the City Centre has to offer.
Just minutes' walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 and to Glasgow Airport just 15 minutes away, as well as several bus routes and is within easy walking distance from Glasgow's main retail and leisure zones.

The scheme has been designed by Glasgow-based Keppie Design. Bowmer & Kirkland is the main contractor. CBRE and Ryden are jointly marketing St Vincent Plaza.

Photograph shows: St Vincent Plaza Please visit www.stvincentplaza.com

Further information from Pauline@skylarkpublicrelations.com 07833 490964 / lisa@skylarkpublicrelations.com 07825 225414 

Notes to editors:

The Abstract Group is one of the most active office developers in the UK and has one of the largest office development programmes of any developer outside of Central London. Abstract is also developing 110,000 sq. ft. close to Gatwick Airport which it has recently prelet to Virgin Atlantic for its new headquarters, as well as Phase 2 of Aberdeen International Business Park. Besides these it is also working with the Carlyle Group on the re-development of the former Colgate factory, now named Soapworks in Salford where it has just announced a 106,000 sq.ft. letting to Talk Talk and further lettings totalling 81,000 including to the Home Office. 

Posted on June 18, 2015 .

ST VINCENT PLAZA TEAM SHOW SUPPORT FOR THE PATIENTS OF ST VINCENT’S HOSPICE

25 February 2015

Abstract Securities the developers of St Vincent Plaza, Glasgow’s newest speculative commercial office development is donating much needed funding for a new garden project that is being created for the patients of St Vincent’s Hospice in Renfrewshire.

St Vincent’s Hospice have for many years, aspired to create a community garden at the rear of the hospice. Recently they received funding for landscaping, but they still need to raise funds for pathways, plants and a sheltered seating area where patients, their families and the local community can enjoy the gardens. Archie Blair of Abstract Securities commented on the donation: “As we share a similarity in name, our St Vincent Plaza development team is helping the Hospice with a £1,000 donation that will go to buy plants for the new garden project. We hope that our contribution will make a difference to the patients and families cared for by the Hospice.”

Archie Blair of Abstract Securities, the developer of St Vincent Plaza with Katrina Vine a volunteer from St Vincent’s Hospice at the St Vincent Plaza, Glasgow site. The St Vincent Plaza development team has donated £1,000 to the St Vincent’s Hospice community garden project that launches this month.

Kate Lennon, CEO of St Vincent's Hospice added: “We are grateful to Abstract Securities for their kind donation. The generous support from companies like Abstract Securities ensures that St Vincent’s Hospice continues to care for more patients and their families in the local community”.

St Vincent Plaza is a landmark development in Glasgow and will be one of the key elements in the next phase of Glasgow’s IFSD on completion in June 2015. It will be the most cost effective new build office developments in the City and in the UK with rents at just £23 per square foot. Visit www.stvincentplaza.com for more information.

-Ends-

Further information from Pauline@skylarkpublicrelations.com / 07833 490964


Editors Notes:

The Abstract Group is one of the most active office developers in the UK and has the largest office development portfolio outside of Central London.

As well as the St Vincent Plaza development, Abstract is developing the 40 acre Aberdeen International Business Park (AIBP) for its client Fornebuporten UK AS (a subsidiary of Norwegian investment company Aker ASA). The site which was acquired in early 2013, is immediately adjacent to Aberdeen International Airport and offers multi-national companies a combination of the best buildings and facilities in the Aberdeen market as well as the closest proximity to the Airport for easy national and international travel.

Phase 1 of The Park, comprising 335,000 sq.ft. of office and leisure facilities, was completed and handed over to the tenant, Aker Solutions, on time and on budget on 20 February 2015.

Abstract are also speculatively developing the 110,000 sq ft Leonardo Building, close to Gatwick Airport, again offering the most competitive new office space in the South East of England. It is also working with the Carlyle Group on the re- development of the former Colgate factory, now named Soapworks in Salford.

 

Posted on February 25, 2015 .

NEW LANDMARK BUILDING IN GLASGOW GETS ADVANCED AIR CONDITIONING SOLUTION BY TOSHIBA

11 July 2014
 
Transient

A new landmark building in the heart of Glasgow, St Vincent Plaza, is being equipped with an advanced Toshiba air conditioning system to deliver outstanding energy efficiency and comfort for occupants.

Designed to have a BREEAM rating of Excellent, the 10-storey iconic office development will be cooled and heated by a Toshiba 3-pipe SHRM-i VRF air conditioning system, with full heat recovery.

The striking granite and glass-clad building, by developer Abstract Group and main contractor Bowmer & Kirkland, will provide 172,280 ft of Grade A office accommodation with panoramic views across the city. The state-of-the-art building includes shower rooms, changing facilities and secure internet shopping storage.

The Toshiba air conditioning is being installed by Castle Building Services of Hebburn, Tyne & Wear, as part of a £5m M&E contract. The contractor is installing 21 high efficiency Toshiba SHRM-i VRF systems, plus a twin-ducted system, providing simultaneous heating and cooling.

Excess heat generated in areas of the building subject to high solar gain or internal heat sources will be harnessed for use elsewhere, or used as energy to power cooling via a sophisticated thermodynamic conversion system.

Untitled-1.jpg

The project required a combination of long refrigerant pipe runs, high SEER and SCOP values, and exceptionally quiet indoor fan coil units. The Toshiba solution selected was able to deliver all these performance criteria in a comprehensive and competitive package.

Some 316 ducted fan coil units are being installed, linked to 41 outdoor condensing modules, with the system connected into the building’s BMS using Toshiba’s recently developed Black Pear interface.

The Modbus-based interface gives the building supervisor access to each fan coil, plus access to overall system timing schedules and temperature and air speed settings, enabling continuous optimisation of energy efficiency and occupant comfort.

Castle Building Services used Toshiba’s design and selection software, which takes into account system loading, pipe runs and design temperatures for summer and winter, to determine actual cooling and heating values for each of the building’s indoor units.

Untitled-2.jpg

Allan Carr of Castle Building Services said: “It’s a great tool and helps in the development and validation of system designs. It shows how conditions can be precisely met with the equipment selected, and provides confirmation that the installed system will deliver as specified.”

The project marks a first for the contractor with Toshiba equipment. Mr Carr says: “We had initially considered going with a different manufacturer.

However, we were introduced to the latest Toshiba range just at the right time, and were very impressed with the quality of the technology and the company’s whole approach.

He added: “They were very responsive and provided excellent technical support. It has enabled us to deliver a high performance, high efficiency solution for the client, and opened some exciting new opportunities on the installation front.”

 

St Vincent Plaza is due to be completed in Spring 2015.

 

About Toshiba Air Conditioning
Toshiba Air Conditioning is a division of Toshiba Carrier UK Ltd, company registration No 3723803. Toshiba Air Conditioning provides sustainable solutions integrating energy efficient products for residential and light commercial customers.

CGI shows : St Vincent Plaza, which is being built at 303 St Vincent St by Abstract (Glasgow) Ltd.

For media information, please contact Lisa Mennie at Skylark Public Relations Ltd on 07825 225414 or lisa@skylarkpublicrelations.com

 

Posted on July 11, 2014 .

COUNCIL LEADER GORDON MATHESON MARKS ST VINCENT PLAZA TOPPING-OUT

4 June 2014

Abstract (Glasgow) Ltd – a wholly-owned subsidiary of Mark Glatman’s Abstract Securities Ltd – has announced that the topping-out of St Vincent Plaza, Glasgow, was completed today, 4th June 2014.

The Leader of Glasgow City Council, Gordon Matheson marked the topping-out ceremony, by tightening the final bolt and adding the final shovel of concrete to complete the structure of one of the most competitive office developments in the City and in the UK, with rents at just £23 per square foot.

St Vincent Plaza is a landmark office development, located opposite the new HQ for Scottish Power and will be one of the key elements in the next phase of Glasgow’s IFSD.  Set to complete in Spring 2015, it will have an end investment value of £70m and be able to accommodate around 2,600 staff.

The ceremony featured a tour of the site where the Leader of Glasgow City Council, Gordon Matheson, met construction workers, before heading to the top floor of the 11 storey, 172,280 sq ft development, to mark the topping-out of the building.

The main contractor, Bowmer & Kirkland began construction work in November 2013, and it is now week 34 of an 89 week project.  The main steel frame of the 11 storey building is complete and work has begun on the external envelope and cladding to the building that will be followed by the internal framework and fit out.

Councillor Gordon Matheson, Leader of Glasgow City Council, said: “Today is a landmark day for St Vincent Plaza as we complete the structure of this development.  It is also a notable day for the City as St Vincent Plaza is a visible sign of the confidence that investors have in Glasgow and our future economic health.  I look forward to this outstanding building being a great success, and one which will bring many new jobs to the City and play a key role in Glasgow’s International Financial District.”

Mark Glatman, chief executive of Abstract Securities, said “Today is a milestone for the St Vincent Plaza development and for the City of Glasgow as a real destination of choice.  St Vincent Plaza aims to attract big name corporates thus creating more local employment and growth for Glasgow.  The building not only offers great value for money at a time when occupiers have to keep a very close eye on the bottom line, but low running costs and very efficient design mean that costs per workstation will be significantly less than our competitors while still maintaining an extremely comfortable working environment.”


The building will deliver an extremely high specification and will comprise a lower ground, ground and ten upper floors together with 78 car parking spaces.  St Vincent Plaza will offer flexible, virtually column-free floorplates of 17,000 sq ft; a feature penthouse level office with terrace, and some of the best views in the City.  It has been designed to a BREEAM ‘Excellent’ standard and an EPC ‘B’ rating and will provide the most efficient and environmentally friendly office accommodation in Glasgow.

As part of the development a new £1.2m landscaped public space that will link William Street to St Vincent Street will be built, improving access to the IFSD and all that City Centre has to offer.   Just minutes’ walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 and to Glasgow Airport just 15 minutes away, as well as several bus routes and is within easy walking distance from Glasgow’s main retail and leisure zones.

The scheme has been designed by Glasgow-based architects Keppie Design and Bowmer & Kirkland is the main contractor.  CB Richard Ellis and Ryden are jointly marketing St Vincent Plaza.

For media information, please contact :

                Pauline Gregory on 07833 490964 / Pauline@skylarkpublicrelations.com

                Or Lisa Mennie on 07825 225414 / lisa@skylarkpublications.com

Posted on June 4, 2014 .

BUILDING WORK NOW STARTED ON ABSTRACT’S ‘ST VINCENT PLAZA’, GLASGOW‘ HIGH SPEC, HIGH VALUE’ SCHEME OFFERS ‘GRADE A’ SPACE AT UP TO 41% LESS THAN COMPARABLE CITY CENTRE SCHEMES

17th October 2013

Abstract (Glasgow) Ltd – a company established by Mark Glatman’s Abstract Securities Ltd – has announced that site enabling work has now been completed, and building work has started, at its speculative, high quality office scheme, 'St Vincent Plaza' in Glasgow City Centre, located at the gateway to Glasgow’s International Financial Services District (IFSD).

The building, which is creating approximately 250 new construction jobs, will have an end investment value of around £65m and be able to accommodate at least 2,600 staff when it completes in spring 2015. Significant site enabling work was required to remove the old Living Well Health Club which straddled the site and the adjoining Santander building. This was concluded last week and the contractor started construction of the new office on 14thOctober.

St Vincent Plaza will comprise 172,280 sq. ft. of office space, built to a 'Grade A' specification, with rents from just £23 per sq. ft. –significantly undercutting current headline rents in the City. This landmark development, located opposite the HQ for Scottish Power, will be one of the key elements in the next phase of Glasgow’s IFSD, and will not only be the most cost effective new build office development in the City, but will offer one of the best value City Centre office schemes currently being built in the UK.

This 'high spec, high value’ development, when complete, will counteract escalating occupational costs by offering businesses the chance to significantly reduce their 'cost per workstation' and buck the trend of rising costs of accommodating staff. A 'BREEAM excellent, EPC B office built to the highest specification, St Vincent Plaza will offer occupiersup to 41% cost reduction against comparable Glasgow City Centre schemes when rent, occupational density, rates and service charges are taken into consideration.The building will comprise a lower ground, ground and ten upper floors together with 78 car parking spaces as well as flexible, virtually column - free floorplates of 17,000 sq. ft.; a feature penthouse office level with terrace, and some of the best views in the City. Providing extremely efficient and environmentally friendly office accommodation, the scheme will be delivered into a market where available ‘Grade A’ supply continues to diminish.

Christopher McPherson, development director of Abstract, said, “Following an intensive period of four months, we are very pleased to have now completed site enabling works and started to build our St Vincent Plaza scheme. In this building, we are bringing a very innovative concept to the market; which is Grade A space at a huge discount to any other City Centre schemes. What we are offering is office space that absolutely does not compromise on quality, but simply cannot be found at this cost anywhere else – our ‘cost per workstation’ will not be replicated anywhere else either in Glasgow or many other City Centre locations in the UK.

Today we find businesses are not only focusing on rents, but are also looking at the cost per workstation. The rental cost does not tell the full story, especially with older and less efficient buildings where density of occupation is poor so companies have to take extra space – businesses need to be thinking about rates and service charges too. It is also simply untrue that it is cheaper just to renew an old lease at the end of the term than to find new space.’

At a time when many Cities in the UK are competing with each other to attract major corporate occupiers, this is really good news for Glasgow and puts the City firmly up there as a place which is not only a great place for employers but, with St Vincent Plaza, can now offer brand new Grade A offices which offer significant bottom line cost savings compared to alternative locations.’’ Just minutes' walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 and to Glasgow Airport just 15 minutes away, as well as several bus routes and is within easy walking distance from Glasgow's main retail and leisure zones

The scheme has been designed by Glasgow - based Keppie Design. Bowmer & Kirkland have been appointed as the contractor. CB Richard Ellis and Ryden have been jointly appointed to market St Vincent Plaza.

CGI shows: St Vincent Plaza, which is being built at 303 St Vincent Street by Abstract (Glasgow) Ltd.

For media information, please contact Lisa Mennie at Skylark Public Relations Ltd on 07825 225 414

or lisa@skylarkpublicrelations.com

Posted on October 17, 2013 .

ABSTRACT ANNOUNCES START ON SITE FOR 'ST VINCENT PLAZA', GLASGOW

25 April 2013

Abstract (Glasgow) Ltd– a wholly-owned subsidiary of Mark Glatman’s Abstract Securities Ltd– has announced that it has completed its purchase of 319 St Vincent Street and on siteconstruction works are due to commence in a matter of days for its speculative high quality office scheme, 'St Vincent Plaza' in Glasgow City Centre, located at the gateway to Glasgow’s International Financial Services District (IFSD).

The building, which will create approximately 250 new construction jobs, will have an end investment value of £65m and be able to accommodate around 2,000 staff when it completes in early 2015.

St Vincent Plaza will comprise 172,280 sq. ft. of office space, built to a 'Grade A' specification, with rents from just £23 per sq ft - significantly undercutting current headline rents in the City. This landmark development, located opposite the HQ for Scottish Power, will be one of the key elements inthe next phase of Glasgow’s IFSD, and will be the most cost effective new build office development in the City.

The building will deliver an extremely high specification and will comprise a lower ground, ground and ten upper floors together with 78 car parking spaces. St Vincent Plaza will offer flexible, virtually column - free floorplates of 17,000 sq ft; a feature penthouse office level with terrace, and some of the best views in the City. It has been designed to a BREEAM ‘Excellent’ standard and an EPC 'B' rating and will provide the most efficient and environmentally friendly office accommodation in Glasgow, delivered into a market where available ‘Grade A’ supply has all but disappeared.

Mark Glatman, chief executive of the Abstract Group of Companies said “We are delighted to confirm our move to start construction. We have been working hard over recent months to finalise various complex agreements to enable this work to commence and we are very pleased to be able to now move forward without any further delay.”

Christopher McPherson, development director of Abstract added, “St Vincent Plaza will be the most competitive speculative ‘Grade A’ office development of its kind to be completed in Glasgow for several years and is likely to be one of only a few speculative office schemes of its size outside London. Starting construction underlines our commitment and confidence in the IFSD and the City as a whole, and we are confident that the scheme will let at an early stage.

“By coming to the market with a top - quality product at a time when there is a dearth of ‘Grade A’ officespace and quoting rentals from just £23 per sq. ft, we are significantly undercutting the established Glasgow market without compromising on quality and offering exceptional value for money as well as significantly reduced operational costs compared to existing City Centre stock.

“St Vincent Plaza aims to attract big name corporates thus creating more local employment and growth for Glasgow. The building not only offers great value for money at a time when occupiers have to keep a very close eye on the bottom line, but low running costs and very efficient design mean that costs per workstation will be significantly less while still maintaining an extremely comfortable working environment.”

Just minutes' walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 and to Glasgow Airport just 15 minutes away, as well as several bus routes and is within easy walking distance from Glasgow's main retail and leisure zones. The scheme has been designed by Glasgow - based Keppie Design. Bowmer & Kirkland have been appointed as the contractor. CB Richard Ellis and Ryden have been jointly appointed to market St Vincent Plaza.

CGI shows: St Vincent Plaza, which will be built at 319 St Vincent Street by Abstract (Glasgow) Ltd.

-

Ends

-

For media information, please contact Pauline Gregory on 07833 4909

64 or pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414 lisa@skylarkpublicrelations.com

Editor’s note:

-Established in April 2000 by Mark Glatman, the Abstract Group of Companies specialises in commercial property investment, development and venture capital financing. The management team at Abstract brings together combined experience of over 6 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements.

St Vincent Plaza, Glasgow is part of the Abstract’s new ‘Austerity Office’ development programme.

Last June, Abstract started work on “Renaissance”, Croydon a 100,000 sq.ft. ‘Grade A’ office scheme with rents from just £22 psf –significantly undercutting rental values for other prospective new builds in Croydon and the South East and representing the most cost effective new build offices within the M25. This will complete in early August 2013.

Abstract with Aker ASA has recently announced an intention to develop the Aberdeen International

Business Park on a 40 acre site opposite Dyce Airport.

Posted on April 25, 2013 .

PLANNING CONSENT GRANTED FOR ABSTRACT SECURITIES' 'ST VINCENT PLAZA', GLASGOW

6th February 2012

Abstract (Glasgow) Ltd – a wholly-owned subsidiary of Mark Glatman’s Abstract Securities Ltd – has announced that planning consent has been granted for its speculative 172,280 sq. ft. 'St Vincent Plaza' development for Glasgow City Centre.

This 'Grade A' building will offer a specification rarely seen outside Central London and will comprise basement, ground and ten upper floors together with 78 car parking spaces. The development is likely to be one of the only speculative office schemes of its size in the UK and will be priced from just £23 per sq. ft. – a significant discount on current headline rents in the city.

Now that planning consent for this landmark development, located at the gateway to Glasgow's Central Business District, has been granted, site enabling works followed by full construction will start in the next few weeks. The scheme will complete towards the end of 2013.

Just minutes' walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 as well as several bus routes and is within easy walking distance from Glasgow's main retail and leisure zones.

Abstract’s Development Director, Christopher McPherson, said: "We are very pleased to announce that we now have planning consent for St Vincent Plaza and can realise our vision of creating an extremely high 'Grade A' specification development in Glasgow's International Financial Services District. Our scheme will be one of the key elements in the next phase of the IFSD and will help to attract high-profile occupiers to the city, which in turns means more local employment and growth for Glasgow.”

Mark Glatman, Chief Executive of Abstract Securities, said: “Glasgow City Council has recognised that in order to attract yet more big-name corporates to the city, it is imperative that Glasgow can offer high-quality 'Grade A' office accommodation at an achievable cost. St Vincent Plaza is all about offering value at a time when occupiers have to keep a very close eye on the bottom line and cannot justify heavy costs. By coming to the market with a top-quality product and quoting rentals from £23 per sq. ft. we are significantly undercutting the established Glasgow market and offering exceptional value for money as well as significantly reduced operational costs. We are offering a very rare opportunity to take 'Grade A' space that costs less than some second hand space in Glasgow.”

Councillor Gordon Matheson, Leader of Glasgow City Council said:“The creation of St Vincent Plaza is another sign that private investors and developers retain a lot of confidence in Glasgow, and will be a welcome addition to our high-quality office accommodation. The confidence that firms aiming to use Grade A business space will find this an attractive location shows private investors’ faith in the city and points to Glasgow’s economic wellbeing. I wish all those involved in the project every success.”

St Vincent Plaza will offer flexible, virtually column free floorplates of 17,000 sq ft, a feature penthouse level with terrace, and some of the best views in the City. The building is designed to a BREEAM ‘Excellent’ standard and an EPC 'B' plus rating. It will provide the most efficient and environmentally friendly office accommodation in the city and will be delivered into a market where available ‘Grade A’ supply has all but disappeared.

The scheme has been designed by Glasgow-based Keppie Design. Bowmer & Kirkland have been appointed as the contractor. CB Richard Ellis has been appointed to market St Vincent Plaza with a second agent to be appointed duly.

CGI shows: St Vincent Plaza, which will be built at 319 St Vincent Street by Abstract (Glasgow) Ltd.

-Ends-

For media information, please contact Pauline Gregory on 07833 490964 or

Pauline@skylarkpublicrelations.com or Lisa Mennie 07825 225 414

lisa@skylarkpublicrelations.com

Editor’s note:-

Established in April 2000 by Mark Glatman, the Abstract Group of Companies specialises in commercial property investment, development and venture capital financing. The management team at Abstract brings together combined experience of over 6 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements.

Posted on February 6, 2012 .

ABSTRACT SECURITIES TO BUILD 172,280 SQ. FT. OF 'GRADE A' OFFICE SPACE ON GLASGOW'S ST VINCENT STREET

Friday 11th November 2011

Abstract (Glasgow) Ltd – a wholly-owned subsidiary of Mark Glatman’s Abstract Securities Ltd – has announced that it has exchanged missives to acquire a site at 319 St Vincent Street, Glasgow, on which it will speculatively build 172,280 sq. ft. of 'Grade A' office space, priced from £23 per sq. ft. (a significant discount to headline rents in Glasgow).

The building – provisionally known as St Vincent Plaza – will offer a specification rarely seen outside Central London and will comprise basement, ground and ten upper floors together with 78 car parking spaces. The development is likely to be one of the only speculative office schemes of its size in the UK.

A detailed planning application for this landmark development, located at the gateway to Glasgow's Central Business District, is being submitted today following extensive discussions with Glasgow City Council and construction will commence in Spring 2012. Completion of the scheme will be in the third quarter of 2013, ahead of Glasgow's Commonwealth Games. Just minutes' walk from both Charing Cross and Anderston train stations, St Vincent Plaza will also offer immediate access to the M8 as well as several bus routes and is within easy walking distance from Glasgow's main retail and leisure zones.

Abstract’s Development Director, Christopher McPherson, said: "St Vincent Plaza has been designed with an extremely high 'Grade A' specification, including, flexible, virtually column free floorplates of 17,000 sq ft, a feature penthouse level with terrace, and some of the best views in the City. The building is designed to a BREEAM ‘Excellent’ standard and an EPC 'B' plus rating. It will provide the most efficient and environmentally friendly office accommodation in the city and will be delivered into a market where available ‘Grade A’ supply has all but disappeared."

Mark Glatman, Chief Executive of Abstract Securities, said: “We have exchanged missives to purchase a key site in Glasgow City Centre, on which we will speculatively build 172,280 sq ft of office space with a specification only usually found in central London.

“With Abstract, quality and environmental performance is a given, but this scheme is all about value at a time when corporate occupiers have to have a close eye on the bottom line and cannot justify heavy costs. With tight design and procurement we are able to bring this building to the market quoting rentals from £23 per sq ft very deliberately and significantly undercutting the established Glasgow market. Furthermore, it is likely that an occupier of this building will have total occupational costs significantly lower than some second hand space in the Central Business District. Before selecting this site we reviewed all the major central development opportunities in the City and this was the only one where it was feasible to deliver a top quality building at such a competitive price.” 

“Glasgow has changed considerably in the last few years to become a cosmopolitan city with a great workforce and a high standard of living. It has a strong pool of graduates and a proactive business environment, with funding initiatives such as RSA grants making it a very attractive business location. We have absolute confidence that our product is in the right place, at the right time and at the right cost. To begin the process of realising our vision we will start site enabling works in the next few weeks to enable construction of the new building to start in early 2012.”

St Vincent Plaza has been designed by Glasgow-based Keppie Design. Bowmer & Kirkland have been appointed as the contractor. CB Richard Ellis has been appointed to market the space with a joint agent to be announced imminently.

CGI shows: St Vincent Plaza, which will be built at 319 St Vincent Street by Abstract (Glasgow) Ltd

-Ends-

For media information, please contact Lisa Mennie at Skylark PR on 07825 225 414 /

lisa@skylarkpublicrelations.com

Editor’s note:-

Established in April 2000 by Mark Glatman, the Abstract Group of Companies specialises in commercial property investment, development and venture capital financing. The management team at Abstract brings together combined experience of over 6 million sq ft of business space development across the UK and Europe. The team is highly experienced at working directly with major property owners and corporate end users, handling all aspects of their property requirements.

Posted on November 11, 2011 .