CityBee Secures Major Lease Extensions at Cuprum in Glasgow

In January 2025, the joint venture CityBee, which operates in the UK as a collaboration between Europi Property Group and Trinova Real Estate, announced two critical lease extensions totaling approximately 60,000 square feet at the iconic Cuprum building in Glasgow. This development underscores the increasing demand for premium office space in the heart of the city.

Strategic Location of Cuprum

Cuprum, notable for its stunning architectural design, is strategically located at the Western gateway to Glasgow City Centre. It rests within the bustling International Financial Services District and boasts exceptional public transport links, making it an attractive location for tenants. With its modern interiors providing high-quality Grade A office accommodations, Cuprum stands out not just for its aesthetics, but also for sustainability, marked by strong ESG credentials, including an EPC A rating and a 'Very Good' BREEAM certification.

Key Tenants and Lease Details

The recent lease extensions feature AXA Insurance UK Plc and Teleperformance Limited. AXA has confirmed its commitment to occupy around 33,000 sq. ft across the 3rd and 4th floors until 2031. Meanwhile, Teleperformance has agreed to a lease extending until 2030 for approximately 27,000 sq. ft spanning the Mezzanine, 1st, and 2nd floors. These lease extensions, finalized in December 2024, demonstrate the robust leasing activity at Cuprum and the successful retention of quality tenants who have been invested in the space long-term.

Mike McCarrick, who leads asset management for Trinova, expressed enthusiasm regarding these commitments, stating that the investment made into modernizing the space with best-in-class amenities has proven appealing to both AXA and Teleperformance. He noted that while Glasgow has encountered challenges regarding the return to office work, a positive momentum is re-emerging.

Commitment to Enhanced Work Environment

James Tootell from Europi Property Group echoed this sentiment, emphasizing the ongoing strong demand from businesses for well-located and sustainable office spaces that prioritize high-quality amenities. He noted that as companies adapt to evolving workplace needs, they are increasingly investing in environments that promote collaboration, creativity, and innovation among their teams. The successful lease extensions at Cuprum serve as a testament to the building's ongoing desirability in the Glasgow market.

Future Developments

Currently, Avison Young is actively marketing the remaining 17,000 sq. ft available for lease at Cuprum, indicating that demand for top-tier office locations in Glasgow is still on the rise. The recent investments made by the landlord in facility upgrades, including improvements in reception areas and enhanced cycling amenities, illustrate a commitment to providing a modern work environment that meets the expectations of today’s businesses.

The rejuvenated interest in securing premium office space at Cuprum positions it favorably as a leading workplace destination in Glasgow, appealing to diverse tenants looking for quality, accessibility, and sustainability within their operational framework. With continued investment in both the building and the city’s infrastructure, Cuprum is set to thrive in the coming years as the office landscape evolves.