MacRoberts advises BAM on ‘game-changing’ Atlantic Square development
Leading Scottish commercial law firm, MacRoberts has advised BAM on the ‘game-changing’ Atlantic Square development in Glasgow City Centre.
The firm acted for the developer, BAM TCP Atlantic Square Limited, a JV between BAM Properties and Taylor Clark Properties, in the development and letting of 1 Atlantic Square to HMRC. The new lease will see HMRC take on the whole 10 storeys comprising 187,000 square feet, with L&G providing the funding. This is the first letting in a development comprising three buildings valued at over £150 million.
The design and construction of Atlantic Square has been described as a game-changer for the construction of future public sector buildings. It is the second UK Government hub in Scotland, with 2,500 staff relocating from a variety of existing offices in early 2022.
David McGuire, lead adviser to the JV, said:
“This was a challenging and interesting project and one which we were delighted to be involved in. Our commercial property expertise proved to be invaluable in delivering this high profile project against tight timescales and during a difficult period for the construction industry”.