Lease Restructure at Cadogan Square
8th April 2008
Ryden, for landlord Daejan (FH 1998) Limited, has completed a lease restructure for the first and second floors of 1 Cadogan Square, Glasgow with existing tenant Kendle Clinical Development Services Limited.
The 21,402 sq ft accommodation has beentaken on a ten year lease at a rental of £334,527 per annum. As part of the deal, the landlord accepted a surrender of Kendle’s lease for the third floor 5,848 sq ft podium, which was simultaneously re-let to Scottish Ministers on a two year lease at £14.50 per sq ft plus car parking.
Ewan Cameron, of letting agent Ryden, commented : “We are delighted to have retained Kendle as a major tenant at 1 Cadogan Sq and to have neatly tied this in with a short term lease to Scottish Ministers( NHS). Daejan is shortly to refurbish the other suites and we expect strong interest as Cadogan Sq is a very attractive location for occupiers looking for good quality open plan space with car parking at a reasonable rent.”
Ryden manages 1 Cadogan Square and will project manage the refurbishment of the building.
James Barr represented Kendle and CB Richard Ellis acted for Scottish Ministers.
