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Glasgow to Get Tallest Office Building

The International Financial Services District has got its tallest building in the Capella development which is under construction. Since its launch in 2001, the IFSD area has been responsible fro generating about 15000 jobs and has brought in one billion pounds in the form of revenue. The building has been sold to British Airways Pension Trustees.

The sale price in the deal is said to be around a quarter million. Though the sum is huge, the building is still considered a good deal because of several unique features which set it apart from the rest of IFSD buildings in Glasgow. The building will be about 200 feet high when completed and will have 111,000 square feet of office space and about 5000 square feet of retail and leisure area, in addition. Law firm MacRoberts LLP has already signed a 15 year lease for occupancy in the Capella development. They will tenant the top four floors spread over 33,500 sq ft at a rent of £27 per sq ft.

The curved glass frontage in the building will afford a breathtaking view of Clyde river from the topmost floors. The building will be the only one in Glasgow Wall Street to have leisure and shopping facilities. Speaking about the building investment chief Binnie pointed out that the substantial sale price indicates the quality of the Grade A building.

As many investors showed interest in the construction it is evident that the market is aware of the worth of good property here. Glasgow continues to be seen as a prime area for real estate growth even as other business locations still continue be volatile following the rough market conditions.

For those looking for new business opportunities, the recent slump in commercial rents has brought many new openings in office space rental; many companies trying to maximise space are providing desk space rental and shared office space to fill vacant office spaces. Desk space Brighton, along with Glasgow, has been another growth area in the commercial sector during the recession.

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