Hutchison Selling Half its Scottish Office

Hutchison 3G UK is trying to sell half of its Scottish headquarters building. The Estates Gazette, a property industry news supplier reported 3UK wants to sub-let 30,000 sq ft of its 72,000 sq ft offices situated in Glasgow's prime business district. The paper reported that Hutchison 3G has instructed a property dealer, Donaldsons to offer two floors of the building, which the company acquired at a top rental rate of US$38 per sq ft.

The company is unlikely to cover its rental costs as office property rents have fallen since 2001, when the lease was signed."

Posted to the site on 14th July 2003