GLASGOW

Cornerstone

Cornerstone

Vacant development site on West Regent Street in Glasgow City Centre acquired with planning consent for new 15,000 sq ft office development.  Enhanced planning consent obtained for new 21,000 sq ft office scheme.  Developed speculatively and 50% pre-let prior to practical completion.  Further letting achieved and subsequently sold with rent guarantees on the remaining vacant space (40%) to a major institutional investor.

End value            £7.5m