LaSalle agrees multiple lettings at Portland House, Glasgow
LaSalle Investment Management has finalised a number of significant new lettings at Portland House in Glasgow and the upper floor offices are now fully let and occupied.
Redeveloped in the 1980s, and with a Grade 'B' listed façade, Portland House is located at the heart of Glasgow's Central Business District. It has excellent transport links: just minutes' walk from Central Station, Queen Street Station, Buchanan Street Underground, and with easy access to bus routes in and out of the city.
Recent significant deals at the building include Tesco taking a 20 year lease on 2,441 square feet on Portland House's ground floor as well as 1,561 square foot on the first floor. The agreement is on a full repairing and insuring basis with a tenant-only break option at year ten. The unit has recently been fitted out and will open imminently.
QA Ltd, which currently occupies the 4,875 square feet second floor, has also recently extended its lease until 2019 and taken an additional first floor expansion space of 2,723 square feet.
In addition to this, the Scottish Criminal Records office has extended its lease on the 4,894 square foot fifth floor until 2017.
Finally, the Prince’s Trust has leased the sixth and seventh floors, a total of 9,382 square feet, for its main Glasgow operation. LaSalle appreciated the trust's spending priorities and worked closely with them to enable them to occupy the top two floors at a very economical cost reflecting its charitable status.
Sophie Carruth at LaSalle Investment Management says: “To have achieved so many deals in such a short space of time is testament to LaSalle’s policy of investing in high-quality, centrally-located real estate. We are pleased to have been able to provide affordable accommodation to our tenants, in particular helping the Prince’s Trust to carry out its charitable work.”
LaSalle was advised by Phil Reid Associates and Ryden.