The UK’s Glasgow-based Student Loans Company (SLC) has announced the agreement of a 20-year lease with Drum Property Group for a new purpose-built HQ office at Buchanan Wharf, Glasgow.

The 75,000 sq ft headquarters will house up to 1,100 of SLC’s staff at the Clydeside development.

SLC services the loan accounts of over 8.5 million customers and manages the UK’s student loan book of £177 billion.

As part of the agreement, SLC will work with the Government Property Agency to co-locate up to 600 civil servants to support the UK Government Hubs Programme.

“With over 3,000 staff across four offices in Scotland, England and Wales the company is no stranger to the city of Glasgow where its headquarters have been permanently based since the company’s incorporation in 1989,” said SLC.

“SLC currently employs approximately 1,700 people in Glasgow, with 7,000 UK Government funded public sector employees now based in the city.

“This is expected to significantly increase with hundreds of Civil Service jobs relocating to the city over the next few years as part of the Places for Growth initiative.

“The UK Government Hubs programme will be investing in the whole of the UK, and this includes new hubs in Glasgow and Edinburgh.”

Student Loans Company CEO Paula Sussex said: “This is a fantastic and timely opportunity for SLC as we continue to transform the company to become a modern, responsive and sustainable organisation.

“This purpose-built office at Buchanan Wharf allows SLC to shape a new office experience that optimises opportunities for collaboration, supports future ways of working, enabling us to deliver an outstanding experience to our customers across the UK.”

Drum Property Group said the SLC building represents the final development at the Buchanan Wharf site in Glasgow city centre, also home to the Barclays Campus and an 18-storey residential complex for Legal & General.