Introduction
MFMac acted for BAM Properties Limited over a number of years in relation to this speculative office development project. Our involvement stretched from supporting BAM in relation to the original site assembly and collaboration arrangements through the planning and procurement phases to various lettings deals and, ultimately, a successful exit from the project.
The development was awarded the Best Commercial Workplace in Scotland in 2022 by the British Council of Offices and has set a new benchmark for occupiers in terms of both its ESG credentials and its wellness facilities. We were very pleased to have been able to assist the clients with the successful conclusion and completion of various lettings deals at the development of several "blue chip" professional services businesses, including Brodies, Pinsent Masons, Mazars, Stantec, Eversheds and Anderson Strathern.
Key Highlights
- A large speculative and sustainable office development project.
- Individual occupiers have designed their offices to meet WELL building standards, further enhancing the development's sustainability credentials.
- Advising on significant office letting deals in the Scottish market.
- A long-term and collaborative relationship with BAM as a key adviser.
- MFMac deployed a team of specialists with deep knowledge of the real estate sector.
- An understanding of BAM's strategic objectives was required throughout the project.
Conclusion
We were delighted to be able to deploy a senior and specialist team of real estate lawyers who have worked in the sector in Scotland over many years and on such a high-profile and complex matter. They were able to deploy their experience throughout the various stages of the development process and, over many years, ensure that the clients were supported with the best legal and commercial advice available. The success of the development at Capital Square is a vindication of the client's relentless commitment to its business plan. It reflects the growing recognition across the UK that developers now understand that focusing on ESG and wellness is fundamental to a corporate occupier's decision-making when relocating offices.
