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Disposal of Leasehold Liability in Glasgow

Central Exchange, 20 Waterloo Street, Glasgow
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The Challenge

Cushman & Wakefield was instructed in January 2013 by Clydesdale Bank Plc to provide marketing and agency advice for the disposal of three surplus floors within Central Exchange, a modern Grade A office building located within the heart of Glasgow's Central Business District.

The Solution

The brief was to secure an assignee or sub-tenant for the remaining lease liability as quickly as possible, on the best possible lease and rental terms.  A very high quality marketing campaign was put in place targeting local, national and international occupiers.

The marketing campaign focused on the size of the three available floors aligned with the previous tenant's fit-out and prime location within Glasgow's Central Business District.

The Results

Within 12 months of placing the accommodation onto the market, the 5th & 6th Floors (25,083 sq ft) were successfully let to Ashhurst LLP for their new legal and business support services centre and the 7th Floor (11,566 sq ft) was taken by existing tenant Hymans Robertson LLP.

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