Drum Property Group, which is behind the Buchanan Wharf scheme in Glasgow, has agreed a 20-year lease with SLC for 75,000 square feet of office space.
SLC will also work with the Government Property Agency to facilitate the co-location of up to 600 civil servants as part of the UK government’s hubs programme.
The UK government’s presence in Glasgow is also expected to significantly increase with hundreds of civil service jobs relocating to the city over the next few years.
SLC's new HQ represents the final building at the Buchanan Wharf site in Glasgow city centre - also home to banking major Barclays’ northern Europe campus and an 18-storey residential complex for Legal & General.
Graeme Bone, group managing director of Drum Property Group, said: “This deal represents the final piece of the Buchanan Wharf jigsaw.
“The new office complex will complete one of Scotland’s largest and most important commercial and residential development projects.
“With prime office space plus an exciting mix of homes, local amenities and open public spaces, Buchanan Wharf will be a stimulating and attractive environment in which to work, live and to visit. It has transformed this neglected part of the waterfront, once again placing the River Clyde at the heart of the city’s economic and cultural regeneration.”
The 75,000 sq ft office will be capable of housing up to some 1,100 staff.
Paula Sussex, chief executive of the Student Loans Company, 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 the Student Loans Company to shape a new office experience that optimises opportunities for collaboration and supports future ways of working, enabling us to deliver an outstanding experience to all our customers across the UK.”
SLC administers student finance on behalf of the UK government and the devolved administrations of Scotland, Wales and Northern Ireland. It has 8.5 million customers and manages a loan book in excess of £177 billion.