28th November 2018

51 West George Street, Glasgow

Purchase for Clydebuilt LP of a 50,000 sq ft office building in the prime city centre core, opposite Queen Street train station, for a price of £10.35 million reflecting a net initial yield of 6.31%. The building is let in its entirety to Clydesdale Bank under a lease expiring in September 2027.

PURCHASE

Purchased by Ediston in April 2018 for Clydebuilt LP for £10.35 million reflecting a net initial yield of 6.31%.

ACHIEVEMENTS

  • The surrounding location, whilst already prime, is improving further with the redevelopment of Queen Street Station and the proposed Meininger Hotel due to be developed by Legal & General immediately next door at 21 West George Street on the site of the former Dale House.
  • With the Clydesdale Bank pending move to Bothwell Exchange there is the potential larger development opportunity incorporating the New Look store and adjoining Redevco holdings.
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