US engineering company Eaton Corporation has taken 1,885 sq m (20,300 sq ft) at Tay House on Bath Street in Glasgow for its new European headquarters.
Eaton has signed a 15 year lease with a break after 10 years at the quoting rent of £134 per sq m (£12.50 per sq ft). It is believed that a rent free period of under six months was secured.
The deal is a vote of confidence in the city as Eaton had originally looked for accommodation in London’s West End and at Glaswegian satellite towns.
Only 1,765 sq m (19,000 sq ft) remains vacant on the ground floor at Tay House. The letting agents are Hillier Parker and J Trevor & Webster who act for landlord Svenska Handelsbanken.
EGi News 26/02/97
