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
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