'Unusual' letting of entire block
Chivas takes all five floors of refitted city square offices
Chivas Brothers is letting the entire building at 2-4 Blythswood Square (pics: Alan McAteer)
Scotch whisky company Chivas Brothers is relocating from Paisley to a refurbished suite of offices in Glasgow’s west end.
Chivas will occupy the entire 27,558 sq ft of offices on the north side of Blythswood Square on a 16 year lease.
The deal has been negotiated by GVA and Graeme Faith & Co on behalf of the landlord, Local Authorities Mutual Investment Trust (LAMIT), part of CCLA Investment Management.
The move by the whisky company, part of Pernod Ricard, is part of a wider programme of investment which includes relocating its bottling operations to Dumbarton.
Gerrard Williams, asset manager at CCLA, told Daily Business at the marketing launch in June last year that the a client was looking to take all five floors, although he said it would be an “unusual” outcome.
Formerly occupied by law firm Brodies, the Georgian building has undergone a £2 million refurbishment to introduce open plan floorplates and new lifts.
The offices have undergone a £2m refurbishment
Michael Facenna, associate in GVA’s Glasgow office who acted for CCLA, said: “Securing a prestigious business such as Chivas Brothers for 2-4 Blythswood Square is an outstanding result for our client.
“They have secured a first-class occupier for the whole building on a long-term basis, whilst the tenant benefits from having staff members based in high quality modern accommodation in one of Glasgow city centre’s most prestigious business addresses.
“The Glasgow office occupier market is coming off the back of a record-setting quarterly performance with approximately 614,000 sq. ft. of take up between July and September. Whilst this has been underpinned by some substantial deals to Barclays and HMRC, we are still seeing healthy levels of demand in the city for requirements above 10,000 sq. ft.”
Vincent Turpin, chief financial officer at Chivas Brothers, said: “The leased building at 2-4 Blythswood Square fits our requirements for a modern, strategically located office space in the heart of Glasgow, a place of business excellence, a home of innovation and a cultural centre.
“The prestigious office address in this vibrant city is the perfect home for our premium Scotch brands and our Scottish based office staff.”
GVA’s latest Big Nine report in to quarterly office take-up revealed that the Glasgow city centre market was already twice the annual average with three months of the year to go.
Gerald Eve represented Chivas Brothers.