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Letting to CapQuest in Glasgow

Capella, 60 York Street, Glasgow
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The Challenge

Cushman & Wakefield was appointed by the landlord, British Airways Pension Trustees to dispose of the vacant 65,000 sq ft within their flagship Glasgow Grade A office building within the International Financial Services District (IFSD). The landlord was seeking 10 year leases. The existing occupiers within the property included MacRoberts Solicitors and Strathclyde Pension Fund. Cushman & Wakefield was to seek occupiers on either a floor by floor or multiple floor basis.

The Solution

  • 55,000 sq ft vacant 
  • Difficult economic market 
  • Existing Grade A competition 
  • 10 year lease term required

The Results

Cushman & Wakefield identified the occupier CapQuest who were seeking new Grade A accommodation. Several viewings were carried out with CapQuest Group and their agent. Heads of Terms were issued and negotiated. The tenant was seeking a five year break however Cushman & Wakefield was confident that a 10 year lease could be secured. Terms were agreed with the tenant for a straight 10 year lease and legals were concluded within a month.

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