Latest commercial property news from Lambert Smith Hampton

Clydesdale Bank dials up landmark building in Glasgow

06/11/2014

LSH has secured 31,000 sq ft of vacant office space for one of Scotland’s best-known banks making it one of Glasgow’s biggest lettings of 2014.

The Clydesdale Bank will move over 400 call centre and I.T. jobs into Granite House, a landmark building in the thriving Merchant City area. The jobs are a mixture of staff re-location and new posts.

LSH brokers the deal

The 5-year deal with the bank has been brokered by LSH, on behalf of Granite House landlord Elandome Ltd. The agreed rent is not being disclosed, but the quoting rent for the building is £13.00 per sq ft.

The site was chosen because Granite House is one of only two buildings in the centre of Glasgow which is capable of providing the space required on a single floor plate.

Key location

The finance house is due to move its staff into the fifth floor of the famous sandstone building before the end of this year. The bank’s decision to move to Granite House adds weight to a growing belief amongst industry experts that the area is now being seen as an important extension to the Central Business District and is increasingly contributing to the business community.

Efficient process

The deal itself took just three months from initial viewing to completion, and is another major boost for Elandome who renovated the 1920’s building in the late 1990’s.

The property is already host to a number of other big names, including:  a House of Fraser call centre, employment and training service provider Ingeus, insurer Letsure, the ASP Ship Management Group as well as a department of Glasgow City Council and Glasgow Housing Association.

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Aasia Mohammad
Associate Director - Business Space

0141 226 6786

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