A PROPERTY group is investing millions of pounds into the Pentagon Business Centre in Glasgow.
MCR Property Group will be creating a modern and comfortable home for well over a hundred businesses. It chose to retain all staff and create ten additional job roles.
The historic six-story building at Washington Street overlooks the River Clyde and sits at the heart of Glasgow’s financial district. It was constructed more than 120 years ago as a whisky bond.
It houses 138 office units, 10 studios, five meeting rooms, three breakout rooms and one large coworking lounge. It also comes with its own 30,000 sq ft self-storage facility attached.
The acquisition is part of MCR’s ambition to purchase over 100 commercial and industrial properties over the next three years, including development sites.
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Nick Lake, asset manager at MCR Property Group, said: “We have a strong conviction that these multi-use business centres will continue to perform well post-pandemic, even though changes to the world of work are yet to come fully into view.
“There is undoubtedly going to be a shift towards working from home, that much is obvious. However, what is likely to become more pronounced as the dust settles is how the freedom to visit an office less frequently will change the nature of the premises that companies favour.
“Sometimes that’s going to be satellite bases outside of urban centres like the Merlin Business Centre at Hillington Park. In other instances, companies with greater geographical spread of employees or, perhaps, younger workforces will continue to want tailored, flexible solutions close to the action.
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“The Pentagon Business Centre is a prime example of just such a development, providing a base for firms close to the commercial and cultural life of the city, and giving them a chance to be part of a very cosmopolitan business community.
“It is large private offices dedicated to big workforces that will be less in vogue going forward, with many employers no longer requiring their staff to be present full time and en masse.”
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