KPMG Latest Corporate to Grab Glasgow Office SpaceMay 16th, 2013 | by MikeS
Glasgow continues to grab the attention of big business, with the news that 123 St Vincent Street has secured another high profile tenant this week. Professional services firm KPMG are to take 15,500 sq ft of office space within the building to house their new tax centre of excellence.
High profile companies already in residence at the building include mobile network Three, law firm Semple Fraser and global investment group Aberdeen Asset Management. According to Property Magazine, this latest tenancy confirms the building’s status as one of the best business addresses in Glasgow.
KPMG’s move to the city also reinforces Glasgow’s position as a city which continues to attract big name corporates. However, lack of Grade A office space in Glasgow city centre over recent years has made it difficult for many larger companies to find suitable space.
A number of projects are currently under development to improve the volume of high grade office space within the city. These include the £70m development at 110 Queen Street, the £60m transformation of the former Odeon cinema building, and the £60m state-of-the-art office building at 303 St Vincent Street, which should cement the street’s status as Glasgow’s premium business location. The latter development is intended to provide high quality space of the standard and type found in Central London.
KPMG’s new St Vincent Street offices will create 150 financial sector jobs within the city; more significantly, their agreement of a ten-year lease at the premises indicates long-term commitment to the area.
They aren’t the only high profile business to signal their commitment to the Scottish city as a key business location. Work is to begin later this year on Scottish Power’s new HQ in the city. The energy giant has invested £80m in the development; a clear statement that the city will remain their lead location in the UK.
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