A 101,000 sq ft office development in Glasgow city centre has been launched to the market for lease after reaching practical completion.
Orion Capital Managers confirmed the milestone for Lucent Glasgow. Lucent, developed on behalf of Orion European Real Estate Fund V, is situated at the eastern end of Bothwell Street.
Best-in-class space is described as facing a ‘critical supply shortage’ in Glasgow, with JLL data from earlier this year showing the Grade A vacancy rate to have dropped to 2% for the first time since 2022.
Lucent is said to feature sustainability credentials in line with evolving occupier demands for prime office space, utilising natural or recycled materials throughout the design and construction process. The building is fully operationally carbon net zero and boasts WiredScore Platinum connectivity and EPC ‘A’ rating.
It also delivers 5,000 sq ft of ground floor amenity space dedicated to staff interaction and wellbeing including breakout areas, an AV suite, tenant lounge, artisan café, and yoga studio.
Richard Low, Orion Capital Managers, said, “With industry-leading amenity offerings and suitability credentials, Lucent is set to play an important role in satisfying the increasing corporate occupier demand for top-quality, well located space in Glasgow city centre. Our extensive redevelopment of the asset was initiated with this in mind and has successfully created a state-of-the-art office building while paying homage to the site’s unique architectural character.”
The name Lucent was chosen to reflect the building’s access to natural light on all sides, as well as its central light-filling atrium and multiple upper roof terraces.
The building was originally built between 1892-1900 and has been redeveloped and restored. As part of the redevelopment, Orion retained the sandstone façade which was a striking feature of the original building.
