Co Down in­vest­ment firm Wire­fox buys £43.5m Glas­gow of­fice devel­op­ment

Belfast Telegraph - Business Telegraph - - News - BY MARK ED­WARDS

A CO Down in­vest­ment firm, which re­cently bought Belfast’s Castlecourt Shop­ping Cen­tre, has an­nounced the £43.5m ac­qui­si­tion of a landmark of­fice devel­op­ment in Glas­gow.

Wire­fox re­vealed yes­ter­day it had pur­chased the 11-storey Capella build­ing, which com­prises more than 100,000 sq ft of of­fice space and is lo­cated in the heart of Glas­gow’s in­ter­na­tional fi­nan­cial ser­vices district.

Built in 2009 as part of the fi­nal phase of the At­lantic Quay devel­op­ment, Capella is home to Scot­tish law firm Macroberts LLP and dig­i­tal trans­for­ma­tion firm Atos.

Derek Pater­son of DPL, a spe­cial­ist in­vest­ment prop­erty ad­viser, acted for Wire­fox in the pur­chase of the Capella build­ing, while Belfast com­mer­cial law firm David­son Mcdon­nell ad­vised Wire­fox through­out the ac­qui­si­tion.

Wire­fox, based in Holy­wood, is run by BJ East­wood.

The pur­chase of the Capella build­ing fur­ther ex­tends Wire­fox’s grow­ing Scot­tish port­fo­lio.

The firm bought six com­mer­cial prop­er­ties on the out­skirts of Glas­gow, known as the Rock­ford port­fo­lio, for £35m in May.

That prop­erty port­fo­lio in­cludes nine of­fice blocks, com­pris­ing of 384,146 sq ft of of­fice space.

In May, Wire­fox com­pleted the £18m pur­chase of Sil­van House in Ed­in­burgh, which is let to the Scot­tish gov­ern­ment, as well as the Souther­gate shop­ping cen­tre in Dum­fries town cen­tre last Septem­ber for £6.75m.

And in July, Wire­fox com­pleted the pur­chase of Castlecourt shop­ping cen­tre in Belfast for £125m from Her­mes In­vest­ment Man­age­ment, in one of the big­gest trans­ac­tions to take place here in re­cent years.

The new own­ers said they plan to in­vest “sig­nif­i­cantly” in the cen­tre.

The 11-storey Capella build­ing in Glas­gow’s fi­nan­cial district

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