The grass is greener for Nucleus at CSG Greenside development

Chris Stewart Group has agreed terms with Nucleus Financial Limited for its Greenside office development in Edinburgh’s Blenheim Place.

The deal will see the award-winning fintech firm take exclusive occupancy of the second floor and partial occupancy of the third floor office space on a 10 year lease commencing this coming November, and relocating its 180 staff from its current HQ in the city centre.

Greenside, which backs on to Calton HIll, provides 38,000 sqft of office accommodation arranged over five floors, with Nucleus – an innovative wrap provider set up in 2006 to initiate a sea-change in the investment and pensions market – taking just under half of this at 18,750 sqft.

CSG is in the process of redeveloping the building. Having originally been built in 1988 as a computer centre for Scottish Equitable, it is set to be replaced with a vibrant new ‘de-furbished’ and modern Grade A energy efficient office space.


The fit out, by GHI Contracts, has seen back up generators and chiller plant rooms being stripped out. High ceilings have been created from removing suspended ceilings, giving Nucleus an impressive amphitheatre stair linking the two floors for staff presentations and events.

GHI is also undertaking shell and core works to the rest of the building to de-furbish and create a state of the art space with the introduction of an enlarged reception area and creation of a staff break out terrace.

The high quality of materials previously used has allowed CSG to introduce full height windows allowing natural daylight to flood in. In addition, an entirely new mechanical and electrical plant will lift the EPC level from a D to a B, through the introduction of a heat recovery air conditioning system and LED lights throughout.

Chris Stewart, CEO of CSG, said:

“We are delighted to have agreed terms with Nucleus for the lease at Greenside. Having shared our vision for the building, we look forward to welcoming them later this year.”

He added:

“By ambitiously reimagining a tired looking 30 year old block overlooking Calton Hill, in the heart of the city, we have taken design inspiration from the local surroundings to create a contemporary working environment.

“We were pleased to see that stripping back the original 1980s office fit out of suspended ceilings and ducts has revealed such an impressive structure. Coupled with the discovery of additional space in the old generator and chiller rooms, it has enabled us to give the building a brand new lease of life to suit the needs of today’s businesses in the city.”

Nucleus founder and CEO David Ferguson said:

“We’ve always tried to create the right sort of environment for our people to do great work, albeit always within the financial limitations of the time. Our continued growth has enabled us to substantially grow profitability and we now have the opportunity to create a pretty stunning environment, which I hope will be energising for our people and ulitmately allow them to take us to far greater heights. Greenside looks like being a world class facility and is certainly in the happening end of town – we’ll be sorry to leave Thistle Street Lane but this move should encourage us to up the pace and accelerate us in the direction of £40 or £50 billion of assets under management.”

JUNE 2017