Client: BAE SYSTEMS
BAE SYSTEMS, pioneers in engineering excellence, approached us for help in sub-letting its 39,000 sq ft office in Glasgow. BAE was in a difficult position; it had a long lease for the space, which was now surplus to requirements, and asked us to secure tenants for the vacant space.
Based on our knowledge and experience of the Glasgow market, we were appointed as agents and laterally as joint agents. We carried out a full marketing campaign to identify potential new tenants through contact with prospective occupiers, agents, development agencies, local authorities and the media.
We negotiated the sub-lease for a single tenant for 22,000 sq ft of the available space. This represented the largest single floor plate deal of the year in central Glasgow. We jointly sublet the remaining 17,000 sq ft. Together these three deals offset our client’s annual outgoings in the region of £900,000 per annum.
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