DM HALL SECURES MAJOR LEASE ON FLAGSHIP OFFICE DEVELOPMENT
In its biggest commercial property deal since the onset of the Covid-19 pandemic, DM Hall has secured the lease of 30,000 square feet of offices at 177 Bothwell Street on behalf of wealth management and professional services group, Evelyn Partners.
The business, formed from the long-established and merged Tilney and Smith & Williamson operations, rebranded itself as Evelyn Partners earlier this year. DM Hall partner and Head of Commercial Agency, Jonathan McManus (pictured above), has acted on behalf of Smith & Williamson over the past 15 years, across Scotland.
The new lease agreement will bring together 350 staff from two locations in the city to create Evelyn Partners’ largest operation in the UK outside its London headquarters. The annual rental will reach the seven figures mark.
Jonathan McManus oversaw the transaction. He said: “We are exceptionally pleased to have assisted Evelyn Partners secure its lease and I am confident the business will thrive and prosper from such a high-quality location. I first acted for Smith & Williamson many years ago acquiring a mere 2,000 sq ft in Blythswood Square, before the firm progressed to St Vincent Street. Its rapid growth pattern has shown a belief in Glasgow as a prime location for business”.
Paul Frame, regional managing partner for Scotland and Northern Ireland at Evelyn Partners, said: “The building’s location in the city centre, close to excellent transport links, makes it convenient for our clients to meet with our specialist teams and attend events.”
Earlier this year, HFD Group, the developer of the property, announced that it had sold it to Spanish investment company, Pontegadea, but would be relocating its headquarters to the top floor of the 315,000 square-foot building.
Other occupiers include Virgin Money, BNP Paribas, AECOM, CBRE, and Transport Scotland, while HFD’s technology business Data Vita, also operate from the building. Evelyn Group’s presence will bring the building to full occupancy.
With its energy supplied by Blantyre Muir Wind Farm in South Lanarkshire, 177 Bothwell Street has achieved an EPC rating of A and is also targeting BREEAM Excellent standard.
It is the first Scottish property to commit to attaining the new SmartScore accreditation for smart buildings and has already achieved a ‘Platinum’ WiredScore certification. The building features a rooftop terrace and running track, reportedly 177 metres in length, 318 cycle spaces, electric vehicle charging points and touchless technology. With 24 offices and over 250 members of staff including 24 Partners, DM Hall is one of Scotland’s largest independent firms of chartered surveyors and this year celebrates 125 years since its foundation in 1897.