12 November 2015
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
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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.