Savills is the new leader in this year’s Radius Data Exchange Glasgow office disposals league table, having wrestled Ryden, which had triumphed for the previous three years, from the top spot.
The major contributing factor to this was Savills’ disposal of One Central, or Argyle Street JPMC (pictured), the planned 13-storey building due to be completed in 2022, to US financial services giant JPMorgan Chase as its new technology base. The 272,858 sq ft deal stood alone in terms of significant transactions this year.
The second-largest deal occurred at Princes House on West Campbell Street, where Barclays took 57,473 sq ft of office space, with JLL disposing and CBRE advising the tenant.
Third-placed JLL also acted on behalf of JPMorgan Chase on its One Central deal and disposed the third-largest deal, in which Hilton took 41,665 sq ft at 191 West George Street.
Despite a lack of notable deals, Radius data shows that the market still transacted 1.02m sq ft of office space over the past year, down just 14% on the previous year’s bumper total of 1.18m sq ft. There was a rise in deal numbers from 154 in the city centre last year to 172 this year, resulting in yet another successful year’s figures for Glasgow’s office market.
