New Office for Royal and Sun Alliance

Royal and Sun Alliance, the insurance company is moving in to the heart of the IFSD.

In the largest single office letting to complete in Glasgow so far this year, Royal and Sun Alliance has leased over 30,000 sq ft within BT’s offices at Alexander Bain House in York Street.

Alison Taylor, head of agency at GVA Grimley, who advised the head tenant BT, confirmed that the sub-letting was on the basis of a 10 year lease at the passing rental of £21 psf, with significant incentives and flexibility.

Hugh Stallard director of Spring 4 who advised Royal and Sun Alliance, commented “we were attracted by the large single floor plate of 30,200 sq ft, the quality of the accommodation and the proximity to Glasgow Central Station”.

The company will be moving from its current offices in St Vincent Street.

Alison Taylor added, “Following on from this success, GVA Grimley has now been instructed by BT to bring another floor at Alexander Bain House to the market. In Glasgow, demand is encouraging and a shortage of good quality Grade ‘A ‘space such as this is likely to emerge by the end of 2010.”

Image courtesy of McAteer Photography.