Praxis has landed another tenant at its refurbished 310 St Vincent Street, Glasgow signing Cisco Systems, the global IT and networking company, who will move into the city centre from its current base at Eurocentral.
Taking the 5,300 sq ft sixth floor, the move reflects the growing popularity of the location at the west end of St Vincent Street and validates the investors’ decision to commit to a comprehensive refurbishment of the building. The £5.6M project included the creation of ‘sky garden’ terraces on levels five to seven, a significant upgrade to the reception and the delivery of a range of facilities focused in the wellbeing of occupiers. The renovation focused on sustainability and, as a result, helped the building achieve an EPC rating of B while the quality of the refurbishment saw it shortlisted for the ‘Refurbished/Recycled Workplace’ category at the 2019 British Council for Offices (BCO) Scottish Awards.
The building is also set to welcome a new food and drink outlet; Coffee Republic, which has acquired the 2,000 sq. ft. retail space on the building’s ground floor. The national coffee operator will significantly enhance the amenities in the immediate locality. These occupiers join Lawrie IP, the independent patent and trademark firm, and tech company OnScale, in calling 310 St Vincent Street home.
Richard Harrison, Senior Asset Manager at Praxis, commented “We’re really building some momentum with our leasing campaign now and already have strong interest in the remaining space. Despite the political headwinds, we’re expectant that we’ll be at or near to full occupancy by year end”.
Sarah Hagen, Office Agency Associate at Knight Frank who advised on the transaction added: “After a year of record take-up in the Glasgow office market during 2018, it’s been very challenging for occupiers to find space that matches their corporate identity. That is particularly true for organisations looking for high-quality space but at a reasonable price point; 310 St Vincent Street really hits the mark. The configuration of the building also provides huge flexibility when it comes to the size of requirements, catering for enquiries of 3,500 sq ft and up. This leaves it very well placed in a rapidly-changing part of Glasgow’s city centre”.
Knight Frank represented Praxis, while JLL acted on behalf of Cisco.