Headquarters building of Scottish Oils Ltd, and associated companies. Scottish Oils purchased the majority shareholding of the Merchantile Chambers Co. Ltd, (formed 1897) and all headquarter functions were moved to the building at 53, Bothwell St. Glasgow in about 1924
PROPOSED PURCHASE OF OFFICES IN GLASGOW.
Mr. Fraser explained the difficulties in regard to management arising trom the present office arrangements in Glasgow, whereby the staff of the Company and its subsidiaries is at present housed in tour different buildings, involving a rental ot over £4,000 per annum. He considered it extremely desirable to have the whole staff accommodated in one building and had heard of a suitable building on a good site in Bothwell Street, which he thought the Company should acquire. This building is at present owned by the Mercantile Chambers Company, Ltd., and has been valued at £94,000 by Messrs. Smellie & Fraser, whose report Mr. Fraser submitted. There is a bond of £50,000 on the property. The total rents come to about £7000, and some of the leases run to 1925 but it might be possible to terminate certain of these earlier by offering present tenants in exchange the offices which the Company now occupies. Three floors of the building would accommodate the Company's staff, and the remaining floors could be let at good rentals. The Board authorised Mr. Fraser to acquire the shares ot the Mercantile Chambers Company on the basis of Messrs. Smellie & Prasers' Valuation.
Scottish Oils Ltd, Minutes of Directors Meeting, 4th May 1920.
See full record 100658