Acting on behalf of Quartermile Ventures Limited, Montagu Evans has pre-let 70,000 sq ft of Grade A accommodation in the Quartermile 4 office building to Cirrus Logic, the US based semi-conductor business.
This deal follows the pre-letting of c58,000 sq ft on the upper floors of Quartermile 4 to FanDuel last year and is the largest arm’s length pre-let in the city for 15 years. The most recent deal means that Quartermile 4 is now 100% pre-let.
Following on the success of Quartermile 4, QVL is considering an imminent start on site with the final office building in the development, Quartermile 3 which extends to 73,000 sq ft. The development of both Quartermile 4 and Quartermile 3 has been facilitated as a result of an £80m funding deal secured by Montagu Evans on behalf of Quartermile with M&G Real Estate in June 2014 to speculatively develop the remaining two office buildings at the development. The total funding commitment agreed was £80.75m. This is believed to be one of the largest speculative office funding deals to have ever been undertaken in Scotland.
Montagu Evans have been providing planning advice and office agency since the inception of the scheme and are retained as office letting agents on Quartermile 4 and Quartermile 3, and planning advisors across the whole scheme.