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