Government Let Office Investment in City Centre

Landmark Government HQ office building in a prime location within Glasgow’s CBD and International Financial Services District (IFSD), with exceptional medium-term alternative use potential. The property is let in its entirety and provides an unexpired term of 5.4 years to lease expiry and 3.4 years to the break option. The current passing rent is £3,272,726 per annum (£33.82 per sq ft), reducing to £1,455,480 per annum from 14 July 2024, reflecting a very low rate of £15.04 per sq ft. In the medium-term, the property benefits from exceptional redevelopment potential for a variety of uses including best-in-class office refurbishment/repositioning, purpose built student accommodation, residential and hotel.