A single prelet has catapulted Smith Cole Wright to the top of EG’s 2013 Glasgow office agent’s league table, securing it a third of the city’s market by sq ft.
The 220,000 sq ft prelet to Scottish Power at Helical Bar and Dawn Development’s scheme on the site of the former Elphinstone Tower, was Smith Cole Wright’s only deal of the year and tipped the Scottish specialist a whisker ahead of Ryden in the 12 months to the end of September.
The prelet pushed Ryden into second place despite a stellar year which saw it increase disposals by nearly 80% and grow its market share to 28%.
Last year’s winner Jones Lang LaSalle was bumped to second place becoming the only Glasgow agent in the top 10 to register a drop in the amount of space disposed of. Its total fell 10% to 139,000 sq ft.
Overall, deals rose by 27% in the city, boosted by Scottish Power. The average deal size remained virtually static but the number of deals grew by over a third.
Stripping out the Scottish Power deal, the market would have fallen 8% as more, but smaller, deals were signed.
Without the letting to the energy provider the largest deal of year would have been the 37,500 sq ft letting to Atos IT at the Capella building at Atlantic Quay on York Street.
Nadia.Elghamry@estatesgazette.com
