CBRE secures new tenant for 58 Waterloo Street in Glasgow

Leading real estate advisor CBRE, alongside joint agent Ryden, has announced it has secured a new tenant for 58 Waterloo Street in Glasgow on behalf of the landlord, Castleforge.

The National Federation of Self Employed and Small Businesses Limited (FSB) has taken a suite on the eighth floor extending to 1,530 sq ft on a ten-year lease at a rental of £27.00 per sq ft. The member organisation offers a wide range of business services including advice, financial expertise and support.

58 Waterloo Street is a modern office building located in the heart of the Glasgow city centre. It provides high quality office accommodation which continues to stand the test of time, following an extensive refurbishment by Castleforge in 2017.

The letting to FSB is the second deal CBRE has done at the building this year; in April engineering consultancy Troup Bywater + Anders acquired 1,166 sq ft on the fifth floor, relocating from its former office on Bothwell Street.

Martin Speirs, Associate Director from CBRE, said: “We’re thrilled to announce that FSB has selected 58 Waterloo Street for its new Glasgow office. It was clear that getting a building in the right location and of the desired quality were important factors in FSB’s relocation in to the city centre. The building has proved to be a big success in a city centre market which continues to suffer from an undersupply of high quality, well-located office space.”

Alice Elder, Surveyor at Avison Young who acted for The National Federation of Self Employed and Small Businesses Ltd, added: “This acquisition brings FSB to a more prominent and well-connected city centre location with the offices providing modern and functional space to suit their evolving business needs.”

As well as FSB and Troup Bywater + Anders, the building is home to occupiers including Taylor Hopkinson, BayWa.r.e. , Allianz, Waverton, Leonard Curtis, Racon Management Services, Swan Group and White Oak UK.

CBRE and Ryden acted jointly for the landlord Castleforge in the transaction, whilst Avison Young represented the tenant.