The Bank of Scotland has agreed a five-year lease extension with Hines, acting on behalf of INMARK Asset Management, on the circa 97,000 sq ft 110 St Vincent Street office scheme in Glasgow.
The asset, which was designed by renowned architect James Miller in the 1920s as the head office for Bank of Scotland, was comprehensively refurbished in 2007 and retains the property’s iconic listed façade and ground floor banking hall.
The building comprises seven floors of office space, a roof terrace offering panoramic views across Glasgow and basement parking spaces.
INMARK Asset Management, which acquired 110 St Vincent Street in 2019, is a specialist APAC-headquartered institutional property and infrastructure investor.
Raj Rajput, managing director and UK head of asset management at Hines, said: “The performance of UK office assets is increasingly reliant on a responsive, service-led occupier experience. The bank’s extension at the property is testament to the quality of Hines and Helix’s asset and property management proposition, continuing our strong track record of successful third-party management mandates across asset classes.”
Amy Soar, managing director of Helix, a Hines company, added: “110 St Vincent Street is one of Glasgow’s most recognisable office assets thanks to its famous façade and banking hall. Helix’s property management mandate at the building will ensure that it remains a well-preserved monument to Scottish architecture whilst also continuing to provide high-quality, efficient workspace for occupiers.”
MC2 acted for Hines on the renewal and CBRE advised Bank of Scotland.
