(Updated to reflect that CuthbertWhite is based in Edinburgh).
Ovo Energy, which was created to produce cheaper, greener and simpler energy and be net zero carbon by 2035, made it clear it had to have a headquarters, in either Edinburgh or Glasgow, with environmental, social and corporate governance criteria at its core. Its new home must have facilities such as plentiful bicycle spaces, electric vehicle charging points and a “thriving work environment, where everyone can be themselves and valued”.
FORE Partnership had just the right building in mind, the 94,430-square-metre, 11-storey Cadworks that was completed in the third quarter of 2021. The building is Glasgow's first that is net zero carbon in operation and possessed all the necessary accreditations – BREEAM Excellent, EPCA, AirScore Gold and WiredScore Premium. It also has a private fleet of green scooters that are free for tenants to use and established partnerships with local community groups and charities.
In this deal, time was of the essence, with Edinburgh-based property adviser CuthbertWhite being able to secure the space for Ovo that also was the biggest city-centre deal in Glasgow in 2022. Brewin Dolphin is also a tenant of the space.
About the project: Cadworks, Cadogan Street, Glasgow, is the city’s pioneering office building delivering top-notch ESG initiatives.
What the judges said: Alison Taylor, principal and managing director, Avison Young, said “securing an energy company that will be visible from [the] ground floor upwards is an impactful letting in Glasgow on the back of COP26 [2021 United Nations Climate Change Conference]. The developer took a brave decision to virtually remove all car parking from the design and build it speculatively.”
They made it happen: Michael Facenna, director, Avison Young, Ken McInnes, partner at Ryden, Chris Cuthbert, founder at CuthbertWhite, David Cobban, head of office and director, Giles Edwards, associate Director, FORE Partnership.