Housebuilder signs ten-year Glasgow HQ lease

Ed Monaghan called the figures "welcome news"
Ed Monaghan, chief executive of Mactaggart & Mickel Group

HOUSEBUILDER Mactaggart & Mickel Group has agreed a new ten-year lease on its Glasgow headquarters at 1 Atlantic Quay.

The company said the move signals its long term commitment to do business in the city. The total value of the deal is £4 million over the ten years. The firm is also investing £400,000 to refit the office space.

Property group Moorfield and joint venture partner Resonance Capital acquired the Grade A office building last year along with neighbouring 2 and 3 Atlantic Quay. 

Andrew Mickel, director at Mactaggart & Mickel Group said, “Glasgow is very much home for Mactaggart & Mickel Group so we were pleased to conclude the renewal of the lease. The ten-year agreement does not include a break clause, marking a clear sign of our commitment to continue to operate in the city. 

“The sector has undergone a period of political uncertainty but, as we move into our tenth decade in business, we are confident in the long term performance of the UK property market and continue to plan for business growth.”