LISMORE Real Estate Advisors has confirmed the sale of Sentinel, described as one of Glasgow’s most recognisable office buildings.
Lismore advised Ardstone Capital investment managers on behalf of the Ardstone Regional Office Fund – a joint venture with CBRE IM – on the £19.60 million sale to Clydebuilt II Limited Partnership (CLP II), a joint venture between Scottish property company Ediston and Strathclyde Pension Fund (SPF).
Located on the corner of Waterloo Street and Douglas Street, Sentinel is a Grade A office building offering flexible accommodation, extending to 84,095 sq ft over ground and nine upper floors, together with 26 basement car parking spaces.
The asset has undergone refurbishment work, with the most recent upgrades completed in 2022. It now offers an all-electric specification, EPC ‘A’ rating, and WiredScore ‘Gold’ certification. Through this repositioning, Ardstone attracted occupiers including JLL, DWF, Chubb, Aggreko, and Sedgewick International.
Simon Cusiter, director of Lismore, said, “The sale of Sentinel represents one of the most notable office investment transactions in Glasgow city centre this year, reinforcing investor appetite for prime, income-producing assets in Scotland’s largest city. Ardstone Capital repositioned the building, helping attract high quality tenants and providing a platform for future performance. The quality of the building was highlighted by the competitive nature of the sale process.”
Calum Bruce, fund manager of CLP II, added, “Sentinel provides Clydebuilt with an attractive income stream which can be further improved through active asset management and the letting of the vacant floors. In a market with a limited supply of high-quality office accommodation, Sentinel is an attractive opportunity for tenants looking for new premises, with good interest already being shown by prospective occupiers.”
