Glasgow investor Ambassador Group has agreed to let a combined 17,000 sq ft to five occupiers through new leases and renewals, including one new Scottish retail entrant.
The deals were secured through Ambassador’s joint venture with London asset manager ICG-Longbow, Ambassador LB Holdings.
Among these, food and beverage chain Triple Two Coffee Masters has signed for a 1,200 sq ft unit for its first Scottish outlet, at 23 Stockwell Street.
US chain Project Pizza has agreed terms for 3,000 sq ft at the Forsyth Building for its second restaurant in Scotland.
Non-profit Shelter Scotland has taken 8,000 sq ft for a combined office and shop at Granite House.
Alongside the signings, the jv has renewed the leases of five existing tenants at Granite House – William Hill, Specsavers and Phone Logic, Newsmart and King Cut Barber, have committed to lease extensions totalling 5,000 sq ft.
The weighted average unexpired lease term of the five deals at Granite House and the Forsyth Building amounts to circa 15 years.
Ambassador Group investment director Chris Richardson said: “That we’ve secured two new operators in Glasgow underscores the strength of the city as a prime retail and leisure destination.
“The right retail product in the right location continues to perform well.”
Elsewhere, the jv is carrying out a £7m refurbishment programme across its Glasgow portfolio, comprising 60,000 sq ft of new Grade-A offices, together with retail and leisure space.
This includes the Ink Building, a 40,000 sq ft office in the international financial services district on Douglas Street.
Savills and Lambert Smith Hampton are the joint agents at Granite House and the Ink Building.
CBRE and Savills are the joint office agents at the Forsyth Building. Culverwell is its joint retail agent alongside Syme, which is also the retail agent at Granite House.
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