Scottish tabloid news company Reach is relocating from its Clydeside HQ to refurbished offices in Glasgow’s business district.
The company, whose titles include the Daily Record, Sunday Mail and Scottish Daily Express, is leaving 40 Anderston Quay and taking an entire floor – 14,298 sq ft – at 55 Douglas Street on a ten-year lease at a rental of £29.50 per sq ft.
It is the first tenant to be secured at 55 Douglas Street following completion of a significant refurbishment project. In total the building comprises 85,000 sq ft of Grade A space.
On-site amenities include a fitness studio/gym, 120 cycle racks with dedicated cycle entrance.
Martin Speirs, associate director at CBRE Scotland, commented: “It is great news that we’ve secured Scottish Daily Record and Sunday Mail Limited for 55 Douglas Street.
“While the office market is facing challenges, this letting is clear evidence that quality accommodation is highly sought after by occupiers and that the wellbeing of their staff is paramount when selecting new office space.”
Gareth Richardson, director at landlord Signal Capital, added: “Having such a large and well-known occupier lease the first floor is testament to the quality of 55 Douglas Street and its credentials.”
David Dick, editor in chief of Scottish Daily Record and Sunday Mail, stated: “This is the start of a new era for the teams at the Daily Record and Sunday Mail who will be joined by the Scottish Daily Express, Glasgow Live and journalists from many of our other print and digital mastheads.
“We look forward to building a fantastic future for our news brands in our new city centre home.”
CBRE represented Signal Capital jointly with JLL in the transaction whilst Paradigm Property Consultants acted for Scottish Daily Record and Sunday Mail.