CityBee, the UK office joint venture between Europi Property Group and Trinova Real Estate, has secured two lease extensions comprising c.60,000 sq. ft at Cuprum, Glasgow

LONDON, Jan. 20, 2025 /PRNewswire/ -- CityBee, the UK office joint venture between Europi Property Group and Trinova Real Estate, is delighted to announce that lease extensions have been secured with two key tenants at Cuprum, Glasgow.

Cuprum is situated in the heart of Glasgow, blending impressive exterior architecture with contemporary interiors to provide high quality Grade A office accommodation. Cuprum is strategically positioned at the Western gateway to Glasgow City Centre, located within the International Financial Services District and benefitting from excellent public transport links. The building benefits from strong ESG credentials, including an EPC A rating and BREEAM 'Very Good'.

AXA Insurance UK Plc have committed to remain in occupation of c.33,000 sq. ft across the 3^rd and 4^th Floors of the building until 2031. An extension has also been agreed with Teleperformance Limited, who retain c.27,000 sq. ft across the Mezzanine, 1^st and 2^nd Floors of the building until 2030.

These transactions, both completed in December 2024, demonstrate strong leasing momentum for the building and confirm the retention of two high-quality long-standing tenants within the occupier lineup. It is a positive reflection on the recent investment into the building by the Landlord to deliver a refurbished reception and cycle storage, shower and changing facilities, alongside leading ESG credentials.

Avison Young are marketing the remaining 17,000 sq. ft which is now available to lease at Cuprum.

Mike McCarrick, leading the asset management for Trinova, commented:

"We are delighted that AXA and Teleperformance have committed their future occupation to Cuprum. The recent investment that the landlord has made into the space, to provide best in class amenities and secure an EPC A rating, has helped to provide a working environment that has appealed to both occupiers. While Glasgow has experienced challenges with the return to the office, momentum is building strongly, and we look forward to welcoming future occupiers to the building"

James Tootell, Asset Management Director at Europi Property Group, added:

"Demand from office occupiers remains strong for well-located, sustainable buildings that offer high-quality tenant amenities. As businesses evolve, forward thinking companies continue to invest in workspaces that foster collaboration, creativity and innovation within their teams. We are pleased to secure these important lease extensions, which demonstrate the ongoing appeal of Cuprum to occupiers within the Glasgow market."

For further information please see: 
https://citybee.work
https://europi.se
https://trinovare.com

About Europi:

Europi Property Group is a pan-European real estate investment company with offices in London and Stockholm, investing discretionary capital across all segments with a flexible investment strategy. Europi has since inception completed public and private transactions of more than €700m in gross asset value alongside its established network of local operating partners and completed four successful exits. By combining a truly entrepreneurial, active ownership approach with focus on social and environmental sustainability, Europi generates long term value and positive impact for all stakeholders.

About Trinova Real Estate:

Trinova is a fully vertically integrated real estate investment and asset management business with a strong focus and successful track record of investing in commercial and residential real estate across the UK, Eurozone and the US.

Trinova currently manages in excess of £1.2 billion of assets under management through multiple mandated segregated accounts and discretionary funds on behalf of its investors.

For further information please contact:
Mike McCarrick, Head of Asset Management, Trinova Real Estate
E-mail: [email protected]

James Tootell, Asset Management Director, Europi Property Group
E-mail: [email protected]

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