Pan-European property investment manager Tristan Capital Partners is
backing its confidence in the future of Glasgow's office market,
with the purchase of the newly developed Cuprum building in the
IFSD for around £23 million.
Cameron Spry, Partner, Head of Investments for Tristan Capital
said: "Tristan has had its eye on this asset for some time, as it
is a top quality development, built to the highest environmental
standards. We believe that the acquisition represents a compelling
core plus investment because it's underpinned by solid current
income and the potential for increasing value, due to the improving
occupancy fundamentals in the Glasgow market."
The investment was made by Tristan's Curzon Capital Partners III
(CCPIII) Fund at a net initial yield of 9.0%.
Cuprum is located at the west end of Argyle Street, close to the
M8 motorway. It offers 100,416 square feet of flexible
accommodation, with floor plates of over 15,000 square feet and 37
secure car parking spaces.
The property is being jointly marketed by agents Jones Lang
LaSalle and DTZ.