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Wednesday, October 04, 2023

DTZ secures new letting in Glasgow's City Centre

DTZ, acting on behalf of capital and income retirement planning company GE Life, has let office space at 18 Blythswood Square to QBE Management (UK) Ltd trading as DA Constable Syndicate Ltd.

DA Constable Syndicate Ltd, an insurance underwriting firm with offices throughout the world, has taken the second floor of the four storey building based at 18 Blythswood Square. This new letting is further indication of the increasing desirability of Blythswood Square as a business location in Glasgow city centre.

The firm has taken on 272.9 sq m (2,938 sq ft) of office space on a lease hold at a rental of 43,000.

DTZ assisted GE Life with the termination of their existing lease from landlord Friends Provident which ran until 2 December 2008. DTZ negotiated with the landlord to successfully achieve a renunciation of GE Life's existing lease on the basis that QBE Management took a new lease from August 2006 for ten years with a break at year five.

Stephen McKenna, surveyor at DTZ commented: "You only have to look at the reduction in the number of letting boards on Blythswood Square over the last 12 months to realise how popular the area has become with businesses. As an office location, the area has reinvented itself with a significant number of smaller professional firms taking space recently. This deal was as an opportunity for GE Life to dispose of their existing lease liability and enable DA Constable Syndicate Ltd to relocate to an area which is becoming highly desirable as a business location".

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