Pinsent Masons move Glasgow office to newly developed Lucent

24/07/2023
The Lucent Building is being developed in Glasgow

MULTINATIONAL law firm Pinsent Masons is preparing for further growth with a move to a landmark Glasgow city centre office after signing up to become the first tenants of the £35 million Lucent Building, which is being developed by Orion Capital Managers, a leading European real estate private equity firm.

A 15-year lease has been agreed which will see Pinsent Masons’ 300-strong Glasgow operation move to the best-in-class ESG Grade A development at 50 Bothwell Street in 2024.

The announcement underlines Pinsent Masons’ strong commitment to Scotland’s global business community, following a similar move in 2022 when the firm’s 200-plus Edinburgh office took occupancy of new 25,000 sq ft accommodation in the prestigious Capital Square development in Edinburgh. 

At Lucent, Pinsent Masons will occupy part of the 4th floor and the entire 5th and 6th floors, totalling 27,561 sq ft. The fifth-floor features extensive private external terraces, while the sixth floor offers a newly created roof top reception and meeting space for clients, a spacious south-facing social space with a meeting terrace for staff and further private terraces. 

The strong ESG credentials of the Lucent building and the opportunity to design a modern working environment suited to the post-Covid requirements of a global professional services firm, were important drivers in opting for the new location.

Pinsent Masons Partner and Head of Glasgow, Barry McCaig, said: “Lucent is a bold choice for Pinsent Masons but the inspired transformation of this stunning building on Bothwell Street times perfectly with our current lease expiry, which meant we were able to act fast to secure the top two and half floors of prime real estate in Glasgow’s business district.

“Not only does Lucent have great kerb appeal, but the building delivers against our environmental objectives and will provide exceptional amenities that will help us attract and retain the best people and lay the foundations for the next generation of legal and professional services talent.

“Post-Covid, we all recognise that weekly working patterns have changed and staff have a wish-list and requirements of the office environment. Our vision for Lucent will exceed expectations and ensure Pinsent Masons remains an attractive proposition for current and future employees, wherever they are on the career path.”

The building has been vacant since 2017 and was purchased by Orion in 2021 who repositioned the building to epitomise the next generation of super prime, vibrant, and smart-enabled offices in Glasgow. Located on the corner of Bothwell Street and Wellington Street, the redevelopment has almost 80% less embodied carbon than a new build office development and has integrated smart technology for occupier comfort and engagement.

Lucent’s reimagined design, executed by Mosaic Architects, preserves the original sandstone façade. The design prioritises people and offers an occupier lounge, break-out areas, an artisan deli, AV Studio, and a central atrium featuring private meeting balconies. Lucent also houses a range of leisure facilities, including a stretch and fitness studio, a contemplation suite, dedicated dressing rooms, 95 cycle storage spaces, showers, lockers, a drying room and a bike repair station. Furthermore, all parking spaces are electric vehicle accessible.

With 91,000 square feet spread across six floors, Lucent offers a contemporary and light-filled environment that is conducive to productivity and well-being. The ground floor is designed with 90% dedicated amenity space, to support occupiers’ need to attract, retain, and inspire talented professionals.

According to data from Savills, as of Q1 2023, the total Grade A office supply in Glasgow was about 425,000 sq ft of which only approx. 82,000 sq ft is in a prime location.

Orion Capital Managers is redeveloping a number of outstanding offices internationally ensuring best-in-class amenities and workspaces, high levels of connectivity as well as outstanding environmental credentials including Panorama St Paul’s in London, Park West in Milan and Oriente Green Campus in Lisbon.

Richard Low, Orion, Asset Management Director said: “We are delighted to welcome Pinsent Masons as our first occupier at Lucent. When we bought this building, we wanted to create a working environment which would encourage people to come into the office and make use of the amenities on site. We believe we will achieve that with Lucent and have created an environment that caters for companies of the future as well as contributing to the wider regeneration of Glasgow city centre.”

Angela Higgins of Resonance Capital, who are providing development management and marketing services, said: “We are pleased to announce this first letting to Pinsent Masons, where Orion has created Lucent around people, their wellbeing needs and the changing needs of the workplace that will also embrace the needs of communities in Glasgow. Access to external space, the natural energy of a light filled atrium and beautiful terraces are major design features of the building while a zero carbon roadmap draws on the themes that attract businesses and pull communities together to revitalise this key area of Glasgow‘s business core.”

The leasing deal was facilitated by Ryden and Knight Frank acting on behalf of Orion, and CBRE representing Pinsent Masons.

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