Esure - Cushman & Wakefield

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Relocation to Equinox, Glasgow

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The Challenge

Esure was formed in 2001 as one of the most competitive, fastest growing insurance companies in the industry with backing from HBOS Plc. Having been based in Manchester, there was a requirement to expand their cause of inter-operation and Glasgow was identified as the ideal location. C&W was retained to secure new high quality premises for Esure within a strict timetable and budget, and most importantly, on a completely confidential basis.

The Solution

Step 1:

The client's identity was kept entirely confidential throughout the process, including legal due diligence. An intensive marketing search was carried out for potential options including CBD and out of town locations.

Step 2:

A shortlist of suitable options meeting Esure's criteria was drawn up, C&W worked with the client to ensure the correct options were on the list. Once shortlisted, a cost/quality analysis was carried out and a preferred option identified.

Step 3:

Negotiations were undertaken on a one to one basis with Wilson Bowden Developments and Taylor Clark Properties, the joint venture developers, who were asked to sign confidentiality agreements before entering into those negotiations.

The Results

Equinox was secured on a pre-let of the entire building, extending to 6,038 sq m (65,000 sq ft). Initially Esure intended only to trade from 50% of the building and sub-let surplus space, however, so successful was the operation that Esure occupy the entire building. Throughout, the identity of our client remained totally confidential until the day after the deal was unconditionally concluded.

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