Regus arm signs Glasgow lease

A division of flexible workspace giant Regus has signed a deal for a Glasgow city centre location in what is said to be the largest Grade A letting in the city this year.

Spaces has agreed the 15-year contract with global property investor M&G Real Estate to take nearly 31,000 square feet at 1 West Regent Street as it eyes strong potential in the flexible working market.

The property investment arm of M&G acquired the entirety of the address in 2016, and only half a floor is still available.

Aaron Pope, director of asset management at M&G Real Estate, said: “With only 1.6 per cent availability of Grade A office space, Glasgow is currently seeing strong occupier demand.” He added that its wider strategy to become the UK’S most productive city by 2023 “is set to attract many national and international businesses into the city, and we are playing our part”.

Rupert Cooper, development director at Spaces, stated: “The flexible workspace revolution has well and truly arrived and we are seeing demand for flexible office space increasing dramatically.”

He also cited the firm’s research finding that 53 per cent of professionals now work flexibly for at least half of their working week.

“We are confident that the new space will be a welcome addition to the city’s already thriving business culture and entrepreneurial spirit.”