Legal & General has let three fully fitted offices across two buildings in Glasgow city centre, operating under its Capsule brand.
At the five-storey Kintyre House, insurance firm Hiscox will occupy 2,761 sq ft on the ground floor and law firm Beale & Co has taken 2,514 sq ft on the third floor.
At 140 West George Street, building consultancy Diamond & Co will move into the lower ground suite of the seven-storey property, occupying 1,579 sq ft.
All three companies have taken five-year leases at £35 per sq ft.
The newly refurbished fully fitted Capsule workspace features meeting rooms and kitchen facilities in each suite. The brand has more than 110 offices throughout the UK.
Andrew Mercer, office sector lead at L&G, said: “Those that go into a Capsule office space benefit as the cost of fit-outs can be amortised over a much longer period than an occupier on a defined lease term. This enables our customers to benefit from our expertise in providing amazing office experiences for their staff and customers.”
Colin McGhee, director at Savills, which advised L&G on the deals, said: “Given the current economic climate, occupiers are less keen to spend time and money on fit-out and are also enticed by limited dilapidation obligations.
“Already this year we have seen 75% of all deals in Glasgow City Centre fall into the sub-3,000 sq ft category, 58% of which is for fitted space and this trend is only set to continue.”
Hiscox was advised by CBRE; Beale & Co and Diamond & Co were unrepresented.
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