Glasgow's commercial property sector continues to buzz.
Buildings 1, 2 and 3 Atlantic Quay, in the IFSD, have been
purchased from M&G Real Estate for £60.7m by
Moorfield Group and its Glasgow based joint venture partner Resonance
Capital.
Comprising 280,000 sq ft of high quality Grade A offices in a
highly desirable waterfront location, the buildings currently
produce a rent roll of £5.5m. The purchase price reflects an
initial yield of 8.54%.
Marc Gilbard, Chief Executive Officer, Moorfield, said, "The
modern buildings offer a range of refurbishment, improvement and
re-letting opportunities that we will work on together with our
joint venture partner, Resonance Capital."
A few hundred yards away, Riverside Capital has secured 24/7 gym
operator Pure Gym to take 18,000 sq ft at 67 Hope Street in Glasgow
on a 15 year lease.
Pure Gym will take ground, first and second floor space at 67 Hope Street, a recently
refurbished ten-storey, 65,000 sq ft modern development next to
Glasgow's Central Station.
Sasha Stupar, director at Riverside Capital, said: "67 Hope
Street provides high quality, cost effective office accommodation
and we are confident it will appeal to a wide variety of occupiers
looking for excellent value for money."