A 15-year lease has been agreed which will see the firm’s 300-strong Glasgow team move to the Lucent Building on Bothwell Street in 2024. The firm said the planned move underlined its “strong commitment to Scotland’s global business community”. It follows a similar relocation in 2022 when Pinsent’s 200-plus Edinburgh team took occupancy of new accommodation in the Capital Square development in the Scottish capital.
At Lucent, which is being developed by Orion Capital Managers, the firm will occupy part of the fourth floor and the entire fifth and sixth floors, totaling more than 27,500 square feet. The fifth floor features extensive private external terraces, while the sixth floor offers a newly created rooftop reception and meeting space for clients, a south-facing “social space” with a meeting terrace for staff and further private terraces.
Partner and head of Glasgow, Barry McCaig, said: “Lucent is a bold choice for Pinsent Masons but the inspired transformation of this stunning building on Bothwell Street times perfectly with our current lease expiry, which meant we were able to act fast to secure the top two and half floors of prime real estate in Glasgow’s business district. Post-Covid, we all recognize that weekly working patterns have changed and staff have a wish-list and requirements of the office environment. Our vision for Lucent will exceed expectations and ensure Pinsent Masons remains an attractive proposition for current and future employees, wherever they are on the career path.”
The leasing deal was facilitated by Ryden and Knight Frank acting on behalf of Orion, while CBRE represented Pinsent Masons. News of the move comes after the legal giant last week unveiled a record double-digit hike in revenues. Year-end results showed that revenues rose by 14 per cent to £605.9m, while profit per partner was up 7.8 per cent at £797,000. During the 22/23 financial year, Glasgow-based partner and former global head of Pinsent Masons’ 900-strong risk advisory group, Laura Cameron, was elected as the firm’s first female managing partner.
Legal giant with 570 Scottish staff unveils record double-digit revenue hike