One of the world’s largest engineering companies, The Weir Group PLC, has been confirmed as the latest office occupier of 1 West Regent Street, a new landmark development located in Glasgow city centre.
Weir has taken two floors of the property, comprising 25,500 sq ft of Grade A office space, on a 20 year FRI lease. Weir will move its head office from its existing location on Waterloo Street to 1 West Regent Street towards the end of the year.
Weir is one of Scotland’s largest companies and operates in over 70 countries, employing in the region of 15,000 people, with a focus on providing highly engineered equipment to minerals, oil and gas and power markets.
1 West Regent Street, which is being developed by Mountgrange Real Estate Opportunity Fund (“MoREOF”) and M&G Real Estate, will deliver approximately 143,000 sq ft of Grade A office and retail space over eleven levels when it completes in March 2015. Construction is continuing at a rapid pace with the building now substantially watertight.
Keith Ruddock, Weir Group General Counsel and Company Secretary commented: “We are looking forward to moving into 1 West Regent Street towards the end of the year. The decision to move our office follows a review of our existing facilities and our current and future needs. Weir has over 140 years of heritage in the city and we are proud to continue that commitment with the move to a new building in the heart of Glasgow.”
Nick Berry, Partner at Clearbell, added: “We are thrilled to be welcoming Weir Group to the building. It is exactly the calibre of organisation we were hoping to attract and it will be a fitting home for such a well-known company which has its roots firmly planted in Glasgow.
“The quality of the building and its specification was an important factor in securing Weir. We worked hard to deliver terms that fulfilled its business requirements whilst also meeting our own objectives. It is an important letting for us and we are confident that occupiers of a similar standard can be attracted due to the development’s excellent credentials.”
1 West Regent Street will have a double height reception, high quality finishes throughout and open plan, flexible and efficient floor plates which range from 12,798 sq ft to 13,627 sq ft and are virtually column free. It also includes 40 car park spaces and 54 cycle spaces, and has dedicated sports style changing rooms with lockers and high powered showers. It is set to become one of Glasgow’s greenest buildings with EPC ‘A’ and BREEAM ‘Very Good’ ratings expected to be achieved.
The green sedum roof is complete and the mechanical and electrical installation on every level is almost finished. The external hard landscaping has also commenced and the toilets and lift lobby fit-outs are progressing well.
Restaurant and café chain Giraffe was confirmed as the first retail and leisure occupier for 1 West Regent Street earlier this year and will operate from unit 2 on the ground level.
The scheme has been designed by Ryder Architecture with Sir Robert McAlpine as the main contractor and Woolgar Hunter as engineering consultant.
Cushman & Wakefield acted on behalf of Weir Group whilst JLL represented MoREOF and M&G Real Estate.
The development will be completed and ready for occupation by March 2015. Leasing enquiries should be directed towards joint agents JLL and GVA James Barr.