Maclay Murray & Spens Secured For G1 Glasgow

Maclay Murray & Spens (MMS), one of Scotland’s leading commercial law firms, is moving its Glasgow operation to the landmark G1 development, with the firm taking on 40,000 sq ft across three floors. The move, which sees some 240 staff transfer from its current St Vincent Street office follows earlier relocations of the firm's Edinburgh and London offices to iconic modern premises.

HF Developments flagship development G1 overlooks the city’s George Square and offers unmatched access to the city’s commercial centre and public transport links.

Magnus Swanson, chief executive of MMS, said: “We have a strong commitment to offer modern and efficient facilities for both staff and clients and our move to G1 completes a process which has seen us move to outstanding new offices in each of our four UK locations. The new office will offer a significantly enhanced working environment and brings together the unique historical fabric of a stunning building within a thoroughly modern setting and a great address.”

Stephen Lewis, Development Director for HF Developments (HFD), commented “When HFD purchased the building in 2005 we were very clear on our ambition for the development – which was quite simply to deliver the highest quality office building in Glasgow. The quality of the occupiers who have committed to G1 is a testament to the fulfilment of that ambition. It has been an absolute pleasure to work with the MMS team, and we look forward to continuing the relationship in the years to come.”

David Smith of Lambert Smith Hampton, agent for HF Developments, highlighted “The MMS letting sees the building 61% let by opening. Whilst this is an excellent achievement in any market, it is all the more significant given the current depressed climate. This would support the concerns by many in the market of the lack of quality office space in the City in the years to come. With the development pipeline all but dried up, the window of opportunity is closing for leading businesses to obtain Grade A accommodation that is reflective of their business ambitions.”

Maclay Murray & Spens were advised throughout by Cushman & Wakefield partner Peter Balnave who added “Glasgow’s finely balanced market for top quality Grade A office space means that occupiers often underestimate the lead-in time required to ensure they make the best relocation decisions. Conclusion of this deal is however particularly pleasing as it marks the culmination of several years’ strategic planning on behalf of MMS, ensuring the orderly exit from three existing lease in St Vincent Street and Bothwell Street, and  a seamless transition into one new development ”

Maclay Murray & Spens joins Ernst & Young and Gardiner & Theobald. Leading restauranteur Jamie Oliver will also open his first Scottish Jamie’s Italian restaurant at G1 next month.

Ends

Notes to Editors: G1 Glasgow

1. G1 Glasgow is a £70m re-development , involving the demolition of all but the external, Grade A listed walls, with a new building constructed behind the facade

2. The new building incorporates basement car parking along with a further four storey glass roof extension

3.The building currently has 40, 526 sq ft of office accommodation remaining, across the 2nd, 3rd, 4th (part) and 9th floors

4. G1 has set the benchmark for quality office accommodation in Glasgow

5.More information on G1 Glasgow can be found on the website: www.g1glasgow.com