Deal sets new headline rent for Glasgow
HFD Group, Scotland’s leading commercial property company, has announced it will take the top floor of its flagship 177 Bothwell Street office development.
The move sets a new headline rent of £40 per sq. ft. in Glasgow – a significant increase on the previous high of £35.25 per sq. ft. While the majority of HFD’s team will move to 177 Bothwell Street, a number of the group’s operational businesses will remain at its current base at Strathclyde Business Park.
177 Bothwell Street’s occupiers include Virgin Money, BNP Paribas, AECOM, CBRE, and Transport Scotland, with HFD’s flexible serviced offices business, HFD Offices, also operating from the building.
A highly sustainable office development, 177 Bothwell Street’s energy is supplied by Blantyre Muir Wind Farm in South Lanarkshire, ensuring it is 100% renewable from an identified local source. It is also targeting an EPC rating of ‘A’ and BREEAM ‘Excellent’ standard.
The building is the first Scottish property to commit to attaining the new SmartScore accreditation for smart buildings and has already achieved a ‘Platinum’ WiredScore certification, a standard recognising that future occupiers will have the best connectivity available.
177 Bothwell Street will also feature a rooftop terrace and running track, 318 cycle spaces, electric vehicle charging points, and touchless technology throughout the building. An independent economic impact assessment concluded that the 315,000 sq. ft. development will generate £2.8 billion of gross value added (GVA) to the Scottish economy over 25 years.
William Hill, CEO of HFD Group, said: “Our business has grown significantly in recent years and the physical re-positioning of HFD reflects that this is where we are doing most of our work. That said, our facilities management service and back-office functions will continue to operate from Strathclyde Business Park, reflecting the importance to us of both the city centre and out of town locations.”
Stephen Lewis, MD of HFD Property Group, added: “It is the strongest possible testimony for other occupiers when the developer of a property is also located in the building. This move demonstrates that we truly believe that 177 Bothwell Street is the best office development in Glasgow and we are committed to what we said we would achieve at the building, as well as the sustainability of our own business.”
