Exsel IT the latest to commit its future to the high profile business location
National commercial property consultancy Lambert Smith Hampton (LSH) is helping City Park, the landmark office building at Alexandra Parade in Glasgow, stake its claim as the city’s most sought after business location.
LSH has recently negotiated a new deal with Exsel IT to more than double the floor space it initially took when it first moved to City Park in May this year. The IT infrastructure specialist is now occupying space on the fourth floor of the building, which was reconfigured by the landlord APAM, to specifically make smaller office suites available to the market.
The deal follows hard on the heels of a decision by another existing tenant to commit its immediate future to City Park. The occupier has removed a break clause in its lease to secure a further 5-year term. It now occupies over 7,500 sq ft on the ground floor of the building.
As well as Exsel IT, City Park currently hosts a number of high-profile businesses at the site in the east end of the city centre, including Dell, Halcrow, Agrekko and Glasgow City Council.
APAM invested in excess of £1m in refurbishing the main entrance and ground floor area of the 300,000 sq ft building prior to its re-launch in April this year.
Commenting on these latest transactions, William Powell, APAM’s Executive Director said: “APAM’s strategy for City Park is to invest in the building and create a real business hub and community. We are delighted our plans are coming to fruition as evidenced by these new deals.”
Lambert Smith Hampton’s Associate Director of Business Space, Aasia Mohammad, commented: “City Park is a very strong option for companies because of its location, floor space options and competitive costs. Clearly this is being recognised by the business community and it’s also being borne out by the fact existing clients are keen to re-commit to City Park.”
The landlord was represented by LSH and CBRE.