Capella Takes Off
The Capella office development in Glasgow’s IFSD has been sold by Wilson Bowden to British Airways Pension Trustees for a sum in excess of £25 million.
The Capella office development in Glasgow’s IFSD has been sold by Wilson Bowden to British Airways Pension Trustees for a sum in excess of £25 million.
Competition amongst prospective purchasers of the tallest office building on the Broomielaw was said by marketing agents Lambert Smith Hampton (LSH) to be “very healthy”.
LSH advised Wilson Bowden and Cushman & Wakefield represented British Airways Pension Trustees.
Capella is a distinctive, landmark development with a curved glass frontage offering spectacular views of the River Clyde. It provides 111,000 sq ft of Grade A offices, with 5,500 sq ft of leisure and retail space on the ground floor.
Earlier this year, MacRoberts LLP, the law firm, leased the four upper floors of the 11 storey building, a total of 33,500 sq ft on a 15 year lease.
Bill Binnie, Head of Investment for LSH in Scotland said '' This deal confirms the quality of building created by Wilson Bowden in Capella. We received numerous offers from a wide variety of investors wishing to buy the building. We believe they see Glasgow as one of the few regional office centres that provides real potential for lettings and growth in the current economic climate."
Written By: elizabeth
Date Posted: 12/15/2009
Number of Views: 171
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