| | Societe d'affacturage, Financement affacturage | Vie d'entreprise | TPE / PME | KENMORE AND ASHFORD LAUNCH CORNERSTONE DEVELOPMENT, GLASGOW, AND ANNOUNCE FIRST LETTINGS


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Kenmore Property Group ("Kenmore") and Ashford Property Group ("Ashford") have celebrated the launch of Cornerstone, their striking new Grade A office development located at 107 West Regent Street, Glasgow, and announced its first two tenant signings to Ofgem and HBJ Gateley Wareing, and have also confirmed that a further floor has now been placed under offer to a high profile professional services firm, which would result in 60% of the building being let or under offer.

The development, which began construction in January 2008 and reached practical completion on 19th June, comprises a 20,662 sq ft seven-storey office building arranged over lower ground, ground and five upper floors. With a BREEAM 'Very Good' Rating, the scheme is located in the centre of Glasgow, strategically positioned within a short distance of both Central and Queen Street Stations, and boasts a prestigious West Regent Street entrance and reception area.

Energy regulator, Ofgem has taken 3,239 sq ft on the third floor of the property on a new ten-year lease at a rent of £25. Commenting on the deal, Kim Pivett, Head of Estates at Ofgem said:

"We were seeking new and well-located office and Cornerstone is perfect for our requirements. The move is allowing us to make more effective use of our space, whilst maintaining headcount".
In the other deal, international law firm, HBJ Gateley Wareing, has also concluded missives on 6,364 sq ft at the building, comprising the fourth and fifth floors, on a 15-year lease at a rent of £25 per sq ft.

Philip Eves, Investment Director, Kenmore Property Group, says:
"We regard these first two lettings, together with the additional floor we have now placed under offer, as a clear sign of confidence in the quality, location and affordable rents offered by Cornerstone and are strongly encouraged by the additional interest being shown by other potential occupiers. These high profile occupiers set the tone for this exciting scheme and match the high standard and design of space being freshly delivered onto the market."

Andrew Smith, Director of Ashford Property Group, adds:

"We are proud to be delivering a project on to the market that complements and contributes to the regeneration of Glasgow's core. There are simply no other office buildings in Glasgow offering floor plates sizes of this quality, and this has been underlined by our letting success to date."
DTZ and James Barr are joint-agents at Cornerstone, acting for the landlords Kenmore Property Group and Ashford Property Group.

King Sturge advised Ofgem and its building services team will manage the office fit-out. Jones Lang LaSalle advised HBJ Gately Wareing.

source : Kenmore


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