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Letting for refurbished building

Pure Gym takes three floors in Glasgow block

Hope St 2Pure Gym has taken three floors of a refurbished modern development in Glasgow city centre.

Property consultancy CBRE has let the building at 67 Hope St on behalf of the landlord, Riverside Capital, a property investment company.

Pure Gym has taken 18,000 sq ft on the ground, first and second floors on a 15 year lease.

The entire block comprises 65,000 sq ft over ten floors, fusing classic and contemporary architecture by combining traditional red sandstone with a stylish glass frontage.

It also features a double height entrance foyer, three high speed passenger lifts and open plan, flexible and efficient floor plates from 6,000 sq ft that are virtually column free.  It includes 14 secure car park spaces and has cycle racks with shower rooms and changing and locker facilities.

Euan McGonigle, associate director in CBRE Retail Scotland team, said:  “Following the success of its first outlet on Bath Street, Pure Gym was looking for a site in the city centre for its next offering that was central, accessible for public transport and that was close to the Central Business District.”

Riverside Capital managed the purchase of the property in 2012 on behalf of Hale Investments and has acted as asset manager since the acquisition.

Sasha Stupar, director at Riverside Capital, said: “We tasked CBRE with securing a retail tenant that would have a positive impact on the office users above.

“With employee turnover accounting for a major part of any company’s operating costs, businesses are becoming increasingly concerned about the health of their staff.  We are delighted to have secured the UK’s largest gym operator and are now one of the few office buildings in Glasgow where regular exercise can be easily incorporated into our occupier’s daily routines.

“We’re thrilled to welcome Pure Gym to 67 Hope Street and look forward to making further letting announcements soon.”

CBRE, alongside joint agent Inglis Howie, is marketing the remaining office space in the building.

Alistair Urquhart, associate director at CBRE, added:  “It is great news that Pure Gym has selected the building for its latest offering; it is sure to bring plenty of activity both to the building and to the area itself.

“67 Hope Street provides high quality, cost effective office accommodation and we are confident it will appeal to a wide variety of occupiers looking for excellent value for money.”

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