Clydesdale Bank Plc Commercial Real Estate Case Study - Cushman & Wakefield

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Acquisition of short term expansion space in Glasgow


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The Challenge

Cushman & Wakefield was instructed in March 2012 to acquire expansion space within their existing building to be used as call centre space. The timing of the project was tight with turnaround of 1 month due to quickly expanding team.


The Solution

Step 1:

Available space within the building was identified and discussions held with relevant parties. Advice was given to Clydesdale Bank with regard to fit-out and connecting services between the existing suite and proposed additional space.

Step 2:

Given the timeframe required for the space, the best advice was to acquire the space from the landlord directly as opposed to existing vacant tenant space.

Step 3:

The suite was measured and terms were agreed with legals concluded in a matter of weeks. The tenant began fitting out the accommodation in May 2012.


The Results

Acquisition of the 5th Floor Part extending to 3,768 sq ft in Royal Exchange House, 100 Queen Street, Glasgow. In addition, Cushman & Wakefield negotiated a schedule of condition to protect the Tenant from excessive dilapidations claims at the end of the lease. The lease is on a flexible short term basis. The timeframe set by Clydesdale Bank was met in full enabling the Tenant to carry out fit-out work and occupy within the required timeframe. Cushman & Wakefield satisfied all of Clydesdale Bank's requirements.

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