Standard Life Investments Property Income Trust has completed the purchase of a Grade-A city-centre office in Glasgow for £4m.
The sale price reflects a £170 per sq ft capital value and a 9.5% income yield.
The building, 140 West George Street, comprises 23,000 sq ft over seven storeys and was comprehensively refurbished in 2009.
The building is let to six tenants including Cyril Sweet, Anderson Fyfe, Gerald Eve, AWD Group and Central Insurance Services, with one vacant floor currently under offer. The building is let off rents of £17 per sq ft, with lease breaks/expiries in 2015 to 2020.
annabel.dixon@estatesgazette.com
