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Setting record rents in Glasgow - G1 George Square

26/04/2012

David Smith, Aasia Ali

Setting record rents in Glasgow - G1 George Square for HFD Group

G1 George Square has been Glasgow’s primary public space for over a century and is one of the most prominent buildings in the City. Since the 1990’s it had been vacant. In 2005 the building was purchased by HFD Group, a leading Scottish commercial property developer.

We have helped HFD Group to achieve planning permission, ensured security of development funding and provided ongoing letting advice, bringing the building back to life. G1 George Square now stands proud again and is 95% let. In fact, Lambert Smith Hampton achieved a record rental figure for Glasgow city centre at the building.

Bespoke property marketing campaign to attract high calibre tenants

G1 George Square occupies a special position in the heart of Glasgow. We created a marketing strategy for the building which emphasised this premium position. We identified two high calibre tenants, who had the correct lease profile and quality of covenant to fit the profile of the occupiers we were looking for.

We then deliberately focused our marketing on this exclusive group of pre-identified occupiers and limited the amount of information circulated around the usual marketing channels, which created a mystique around the property and underlined its premium status. G1 George Square is a building that chooses you.

In particular, we identified two professional services firms in Ernst & Young and Maclay Murray & Spens from the outset of our campaign, and we were able to secure both tenants at premium rents.

We have subsequently attracted an impressive tenant list which includes Ernst & Young, Maclay Murray & Spens, Gardiner & Theobald, Mercers, Jamie’s Italian and Browns Brasserie. Within a year of opening, the building was 95% let.

Award winning development in the heart of Glasgow

The HFD Group were awarded Scotland’s Best Commercial Workplace award at the recent British Council for Offices (BCO) Awards for their outstanding development of g1 Glasgow. Situated in the civic heart of Glasgow, G1 is the city’s premier office building at Glasgow’s premier business address, a £70m re-development has returned the building into the most desirable address in the City.

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