WOOD GROUP SIGN UP TO ABSTRACT IN GLASGOW

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

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

ABSTRACT ATTRACTS MOTT MACDONALD IN GLASGOW

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

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

PLANNING CONSENT GRANTED FOR ABSTRACT SECURITIES’ FLORENCE BUILDING IN BASING VIEW

Mark Glatman's Abstract Securities has announced that its associate company, Abstract (Basingstoke) Limited, has been granted detailed planning consent for ‘The Florence Building’, a high quality office scheme in Basing View, Basingstoke. This landmark development will be one of the key elements in the regeneration of Basingstoke’s Central Business District and is the first large speculative office development for 15 years in the Town Centre. 

‘The Florence Building’ represents Abstract Securities’ next “uncompromising value”, speculative office development, providing 60,546 sq. ft. in Basing View, the central office core for the Town and just eight minutes’ walk from Basingstoke Railway Station and the central shopping area. The ‘Grade A’ building will be the most cost efficient new build office speculatively under construction anywhere in the South East. 

The building comprises ground and four upper floors and offers flexible, virtually column free floor plates, from approximately 12,000 sq.ft. to 12,400 sq.ft.  It will also include 203 under cover car parking spaces. Site enabling works by Basingstoke and Deane Borough Council are ongoing and work on the new building will follow on from the end of Quarter 1 2017, when the Council’s works are scheduled to have been completed.  Building completion is targeted for Summer of 2018.  

In line with all Abstract developments, the building will achieve a BREEAM 'Excellent' environmental standard and targets an EPC Rating of 'A', together with a base building design occupancy capable of accommodating from 1 person per 8 sq. m. and the capacity to increase this to 1 person per 6 sq. m., which will maximise the operational efficiency of the accommodation.

Mark Glatman, Chief Executive of Abstract Securities, said: “We are delighted to have achieved planning consent for The Florence Building in Basing View, which will bring Basingstoke its first high quality office scheme in 15 years and the most cost effective new office space in the South East. We have every confidence in Basingstoke as a business destination, with its excellent transport links, first class amenities and high quality work force.  

“We continue to maintain that whilst quality and environmental performance remain key drivers for occupiers, value for money is fundamental. By continuing to exercise tight design and procurement processes, we will deliver a fantastic product at exceptional value, offering a cost per work station from only £3,200 per annum (based on an occupational density of 1:8m2), compared with competing areas at figures potentially as high as £4,500 to £5,700, whilst achieving an extremely comfortable working environment.

“With Basingstoke ranked as number one for digital businesses outside of London, ‘The Florence Building’ is well placed to attract the growing digital sector and big-name corporates thus creating more local employment and growth for the Town Centre.”

The scheme has been designed by TP Bennett.  Bowmer & Kirkland have been appointed as the contractor.  Savills and RARE are jointly appointed to market The Florence Building. Pinsent Mason are acting for Abstract on the project. Visit www.theflorencebuilding.com.

ABSTRACT DELIVERS COFFEE REPUBLIC

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

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

LATEST NEWS

Abstract has acquired from DuPont, Site 100 at the Bristol Business Park and is now investigating the potential for the phased development of the site which is capable of accommodating around 160,000 sq. ft. of new offices. The freehold site is 7.3 acres in total with 6.2 acres of developable land.  It is currently owned and occupied by DuPont and there is an 81,000 sq ft building on the site which comprises a mixture of offices, laboratories and warehousing.

Lambert Smith Hampton represented Abstract and JLL represented DuPont.