Stu­dent loans com­pany build­ing sold

The Herald Business - - News Digest -

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.”

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