Student loans company building sold
JONES Lang LaSalle and CBRE, acting on behalf of McKay Securities PLC, have agreed the sale of a major city centre office building in the heart of Glasgow’s Central Business District.
The sale of 100 Bothwell Street follows a 10-year lease renewal which could see the building occupied by the Student Loans Company until December 2023. The property, which occupies one of the most sought after island sites in the city, will continue as the UK headquarters of the organisation.
The nine-storey, 102,320 sq ft building was developed by McKay Securities PLC in 1989 and has been sold to a private investor after joint marketing from Jones Lang LaSalle and CBRE.
Simon Perkins, managing director of McKay Securities, said: “The significant lease extension agreed with the Student Loans Company last year generated an uplift in value, which we decided to realise through this disposal. This asset has performed well for the group, and the time is now right to move on to new opportunities.”