REAL estate advisor CBRE has completed the sale of The Arc in Hillington Park.
The asset was purchased by Danobe securities for £2.4 million, represented by Ryden. The vendor was a private client of the asset manager, HKIP.
The Arc comprises seven single-storey office suites arranged in a curved terrace. The buildings total 21,128 sq ft with individual unit sizes ranging from 2,454 to 3,853 sq ft. It is fully let to seven tenants including Sally Salon Services, GE Energy Power Conversion and FES FM.
Martyn Brown, director at CBRE, said, “We are thrilled to have completed the off-market sale of The Arc on behalf of our client, representing a rarely available opportunity to acquire a fully let, high-yielding office investment situated in Glasgow’s dominant out of town business park.”
Ian Dougherty, partner from Ryden, added, “Ryden has been involved with The Arc on the letting side for a number of years and we know the scheme’s popularity with occupiers. This acquisition provides an attractive income yield for Danobe bearing in mind the quality of the asset and income stream.”
