Glasgow property sale provides market boost

A prime office building in the heart of Glasgow has changed hands in a multi-million pound deal that underlines the strength of investor confidence in Scottish cities.

Investors The Topland Group has purchased 8 Nelson Mandela Place for around £11.1 million from Patrizia UK.

The building comprises more than 60,000 square feet and, other than on the ground floor, which is a blood donation centre, it is used for offic- es. Tenants include Audit Scotland, Rathbone Brothers and Waterman Group.

Stuart Agnew, senior director at property consultancy GVA, which advised the vendor on the deal, said: “What is clear is that political uncertainty at a Scottish, British and European level has not deterred investment, and a number of assets that did not sell in 2016 have gone under offer or have completed this year.

“UK investors have selectively returned to the fold this year.”