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Trio of Lettings at Glasgow City Centre’s Mercantile Building

19th August 2016

On behalf of clients MRC Pension Trust c/o TH Real Estate, Ryden is delighted to announce a series of lettings within the refurbished Mercantile Building, 53 Bothwell Street, Glasgow.

Televerde, the American based marketing and sales solutions provider, has leased 4,478 sq ft on the third floor for their new European Headquarters.  This will function as a multi-lingual European contact centre.  RPS Environmental Management Limited leased the 4,998 sq ft remaining suite on the third floor for its joint venture operation with Atkins Ltd, known as ARC JV, to service a contract for Scottish Water.

Planning and development consultancy, Iceni Projects, took the remaining space on the second floor ‘Mercantile Suites’ and becomes their first office in Scotland. ‘Mercantile Suites’ is a series of 15 individual offices available on flexible licence and all-inclusive terms with immediate access to IT.

Tim Jacobsen from sole letting agent Ryden, comments:

“Our clients have delivered a fully refurbished office building in a core city centre location at highly affordable rents from £14.50 per sq ft. This attractive combination has resulted in these high profile lettings on the third floor. The investment in creating smaller suites on the second floor demonstrates their willingness to attract a wide range of occupiers.”

Acting as Asset Manager on behalf of TH Real Estate, James Birkett of Mendip Capital and Grant Scrimgeour of Denwolf adds:

“The building has seen a dramatic transformation since MRC Pension Trust acquired it in 2013 with an extensive £2m refurbishment programme, both internally and externally. Around 25,000 sq ft of office space has been let since acquisition and following this success with the third floor we will now commit to refurbishing the final vacant area. The 10,000 sq ft fourth floor has sub-divisible potential and will be renovated to an excellent specification.”

Ryden is acting as the sole letting agent for landlord MRC Pension Trust.

RPS Environmental Management was represented by Carter Jonas, Televerde was represented by Macbeth Property Consultants and Iceni Projects was represented by Phil Reid Associates.


Tim Jacobsen

Tim joined Ryden in 2002 and is based in the Glasgow office agency team.  Throughout his time at Ryden he has gained experience in other departments, in particular the industrial and development agency sector and the valuation department.

Tim specialises in providing property advice in all aspects of the office sector and in particular has carried out a number of acquisitions on behalf of a variety of retained clients. He has been Involved in a number of major office and business park developments from initial feasibility through to marketing, letting and selling on behalf of clients. 

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