LAMBERT Smith Hampton (LSH) has revealed plans to move to a new head office in Scotland - just days after signalling plans to double the size of its operations north of the Border.
The property management company has agreed to 10-year lease on a 4,763 square foot office in Glasgow's Bothwell Street.
The fifth floor premises, which will be leased at a rate of £18 per square foot, will undergo a major refurbishment by landlord Town Centre Securities before LSH moves in.
LSH said it will make the switch from its current headquarters in the city's West George Street in December. The deal includes a five-year break clause.
Neil McVicar, who currently heads the firm's operations in Scotland, said: “As the business continues to grow, so does our team in Scotland and the time was right to look for more suitable office space.
“Bothwell Street is a prime CBD (central business district) location and the overall floor space and commitment by the landlord to renovate the suite makes it an ideal location for our new Glasgow HQ."
Alison Taylor of joint letting agents Bilfinger GVA said: “Town Centre’s flexible and knowledgeable approach to dealing with occupiers undoubtedly helped secure a prestigious professional services occupier to the building.”
The move was announced by LSH after it appointed Craig Maguire as head of its Scotland operations last week. The hire came as the company gears up to double its size north of the Border.
Mr Maguire will oversee the Glasgow and Edinburgh offices of the firm as it expands existing and introduces new service lines.
He brings more than 20 years of property sector industry experience to the role, having worked in agency, development and capital markets in Scotland and mainland Europe. He joins from DTZ, where he was a senior director in the capital markets team in Warsaw, Poland.
Prior to that, he was managing director of Point Park Properties – a Merrill Lynch-Arcapita fund - where he led the acquisition, development, funding and leasing of over 1.5million sq ft of industrial and logistics space.
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