Atlantic Quay 3 Glasgow Office Development Photos, Broomielaw Property News
Atlantic Quay 3 Glasgow Office Development
New Building in Strathclyde by Moorfield Group and Resonance Capital
25 Oct 2017
Atlantic Quay 3 News
Moorfield Announces Deal With Scottish Courts And Tribunals Service On Completion Of Atlantic Quay 3 Refurbishment
Atlantic Quay 3 Development
25th of October 2017 – On behalf of the Moorfield Real Estate Fund III (MREF III), Moorfield Group (Moorfield) and Glasgow-based joint venture partner Resonance Capital, have announced that Atlantic Quay 3 is now fully let on a long term lease to the Scottish Courts and Tribunals Service, on completion of a multi-million pound refurbishment of the Building.
Completion of the deal on Atlantic Quay 3, will see the Scottish Courts and Tribunals Service – the scheme’s first new tenant – fully occupy 79,500 sq. ft. of ‘Grade A’ open plan flexible office space over its ground and six upper floors. Moorfield Real Estate Fund III purchased Buildings 1, 2 and 3 Atlantic Quay in September 2015 and a comprehensive refurbishment programme to revitalise the scheme will complete in 2018.
External image shows: Atlantic Quay 3 on completion of a multi-million pound refurbishment. Now fully let the Scottish Courts and Tribunals Service the scheme’s first new tenant will fully occupy 79,500 sq. ft. of ‘Grade A’ open plan flexible office space over its ground and six upper floors:
photo © Damian Shields
Atlantic Quay 3 features a new double-height reception; new VRF air conditioning system throughout to 1:8 design ratio; 2.7m clear from floor to ceiling; new LED lighting throughout; three 13 person lifts with a separate goods lift and new refurbished finishes to all lift lobbies. The building also benefits from 24 hour security, 31 secure car parking spaces and 100 secure cycle racks in the basement.
Mark Holmes, Head of Asset Management at Moorfield, said: “We are delighted to welcome the Scottish Courts and Tribunals Service to Atlantic Quay 3. We have worked very closely with them to ensure that their occupational requirements for the building are successfully achieved. Announcing that Atlantic Quay 3 is now fully let on a long term lease to the Scottish Courts and Tribunals Service, on completion of a multi-million pound refurbishment, reinforces our confidence in the quality of Atlantic Quay Buildings 1,2 &3 and its location in the City’s business district.”
Ken Barrett of Resonance Capital commented: “We are delighted to have brought this high quality ‘Grade A’ refurbishment to completion on time and well within budget. The supply of buildings of this size and specification in Glasgow is very limited at the moment and we are pleased that our ability to progress the development speculatively has been reflected in the building already being fully let to the Scottish Courts and Tribunals Service.”
Internal image shows: Atlantic Quay 3’s newly refurbished reception area. Now fully let the Scottish Courts and Tribunals Service the scheme’s first new tenant will fully occupy 79,500 sq. ft. of ‘Grade A’ open plan flexible office space over its ground and six upper floors:
photo © Alan McAteer
Eric McQueen, Chief Executive, the Scottish Courts and Tribunals Service (SCTS) said: “The SCTS has worked closely with Her Majesty’s Courts and Tribunals Service (HMCTS) to rationalise accommodation in Glasgow and create this new Tribunals Centre. The centre will have 34 hearing rooms and provide excellent facilities for all tribunal users, with specific support for young users with additional support needs.”
A comprehensive refurbishment of Glasgow’s Atlantic Quay Buildings 1, 2 and 3, will create a contemporary business destination on the City’s waterfront, The overall design influence of the scheme is inspired by the colour palette of the Nordic countries. A bespoke art collection by the award winning photographer Damian Shields will feature Nordic and Scottish artwork in the public areas of Atlantic Quay 1, to be unveiled on completion in 2018.
The scheme is just a short walk from Glasgow’s main shopping, leisure and entertainment districts and accessible to all major road, rail, air and bus links.
For further information please visit www.atlanticquay.com
Atlantic Quay Glasgow Buildings
About Atlantic Quay Buildings 1, 2 & 3
AQ 1,2&3 is a unique office destination comprising three buildings, totalling circa. 280,000 sq ft. that fronts the River Clyde. Acquired by Moorfield Group and joint venture partner Resonance Capital in 2015, it is undergoing an evolution to transform and realise the buildings’ full potential.
Atlantic Quay is just a short walk from Glasgow’s main shopping, leisure and entertainment districts and is accessible to all major road, rail, air and bus links. Its ethos is to build a waterfront business destination with a strong sense of community. Site social and charity events, car valet and beauty services are already underway with more facilities and services coming soon. AQ tenants include Mactaggart & Mickel.
Moorfield Real Estate Fund III (MREF III), acquired Buildings 1, 2 and 3 Atlantic Quay in July 2015. The opportunity was identified through Moorfield’s partnership with Resonance Capital, who act as Moorfield’s Glasgow based joint venture partner.
About Moorfield Group
Moorfield is a UK real estate investment specialist with a 20 year history and track record of investing across a broad range of established and emerging real estate sectors. It currently has c. £2bn under management and has raised c.£1.2bn since 2005 via its value–add MREF funds and its dedicated senior housing platform MAREF. Two of the three MREF funds have now been realised and MREFIII is c.50% committed. MAREF acquired Audley, the leading UK retirement village developer and operator in December 2015, and will provide Audley with further capital to grow.
Moorfield is a proactive asset, operational and financial manager of both traditional and alternative real estate with significant experience in managing and repositioning multifaceted investments. The MREF funds make investments both directly and indirectly through corporate vehicles and joint ventures.
Assets are either acquired with a view that they will be sold individually once the business plan has been achieved or as part of creating portfolios and platforms to enhance returns. Moorfield also supports entrepreneurial management teams that want to grow their real estate backed businesses or that want to take specific advantage of market opportunities.
About Resonance Capital
Resonance Capital is an active property investment and development company with significant interests in commercial property assets and developments across the UK through co-investment or joint ventures. The company offers a dedicated marketing service that delivers creative, bespoke solutions for a range of commercial property assets and developments. For further information, visit
www.rescap.co.uk
Architecture in Scotland
21 Apr 2009
Capella : Atlantic Quay
Architect: BDP
picture from the architect
Related development: SEEL, 5 Atlantic Quay, 150 Broomielaw
Related gm+ad Project: Anderson Quay
Related gm+ad Project: Glasgow Bridge Competition:
Adjacent to gm+ad architects Atlantic Quay building are three offices by BDP Architects:
Atlantic Quay – BDP Masterplan
The three buildings are Phase I of the BDP Masterplan for Atlantic Quay, extending the Glasgow’s commercial area into Scottish Enterprise – SEEL.
The offices, up to seven storeys high and located around a new Square off Robertson Street / Broomielaw Road / York Street, also connect the River Clyde back to the city.
The four lower Atlantic Quay images provided by BDP Architects Jun 2005
Atlantic Quay design : Building Design Partnership
Comments / photos for the Atlantic Quay Offices Building page welcome.