HMRC reveals new build development as its Glasgow regional centre
JLL advises on move to Atlantic Square.
HM Revenue and Customs (HMRC) has today announced its latest addition to a network of 13 state-of-the-art regional centres, by signing an agreement to lease an estimated 187,205 sq. ft. of office space in a 10-storey new build at Atlantic Square, Argyle Street in Glasgow for 25 years.
Following a comprehensive search across the city by JLL, the Atlantic Square development - being developed by BAM Properties Limited and TCP Developments Limited - was found to be by far the ideal location, as well as being cost effective.
The development is easy-to-reach with excellent transport links, in addition to providing HMRC with the digital infrastructure required by a modern tax authority.
The building will eventually accommodate about 2,700 full-time equivalent employees from across the department by 2021.
Steven Boyd, HMRC Estates Director, said: "I'm delighted to confirm Atlantic Square as our 10th regional centre. HMRC has a significant presence in Scotland and we are pleased to grow upon this in Glasgow. The development will help continue HMRC's transformation into a modern, digitally-advanced tax authority thanks to the site's high specification office space, central and accessible location and digital infrastructure."
Angela White, Head of Corporate Services at JLL in Glasgow, added: "The Government's decision to relocate another regional hub in Scotland is testament to the strength of the commercial property market and standard of living in Glasgow. Atlantic Square was selected following a robust process which considered a broad range of criteria as well as cost efficiencies. Situated in the heart of Glasgow's International Financial Services District, and within walking distance of both major train stations, the vibrant mixed use development will provide excellent connectivity for staff and visitors."
Leader of Glasgow City Council, Councillor Susan Aitken, said: "This is a significant and long-term investment in Glasgow that reinforces the city's status as a world-class business location and a major hub for jobs in the financial services sector."