MCR Property Group has completed the acquisition of CityPark Glasgow, a former tobacco factory that has since been converted into a 300,000 sq ft centre for business, creativity and leisure.
The property, located on Alexander Parade, has been purchased for an undisclosed sum. Tenants include Dell, Teleperformance and Sky.
The deal follows MCR’s acquisition of The Pentagon Centre in Glasgow.
Nick Lake, asset director at MCR Property Group, said, “This is a fantastic acquisition for the group that adds weight to our growing portfolio and significantly strengthens our presence in Scotland. CityPark is an important landmark building and is considered a premium office destination for Glasgow, offering flexibility and first-class facilities for companies seeking desirable workspaces in a highly connected location.
“We are already working on space planning to ensure the development meets its full potential, creating an office environment that drives productivity and attracts forward-thinking and innovative companies.”
CityPark boasts over 500 parking spaces, a café, break out spaces, a nursery, gym and leisure areas.
Nick Lake added, “Our group vision includes a focus on the modern-day working environment, understanding this shifting landscape and creating aspirational work spaces, with further plans to develop and acquire new sites across the UK.”
