REAL estate advisor CBRE has announced it has completed the off-market sale of a Glasgow office building on behalf of Patrizia for in excess of £5.5 million.
84-94 St Vincent Street, which is home to occupiers including Pizza Punks, Interstate Hotels, Crawford & Co, and Visit Scotland, has been purchased by a private investor. The A-listed building comprises over 42,000 square feet of office and retail space over basement, ground and seven upper floors.
Martyn Brown, director at CBRE, said, “We can confirm that we have successfully sold 84-94 St Vincent Street in Glasgow on behalf of our client Patrizia. It is a well-known building located in the heart of the city centre, with a range of value-add management opportunities. Despite the wider economic effects of the pandemic we are seeing strong interest for quality investment opportunities from a range of buyers and expect this to continue as office workers return to the workplace.”
CBRE acted for the vendor Patrizia in the transaction and JLL represented the purchaser.