GLASGOW - The Spectrum Building
Client
Henderson Global Investors
Area of Advice
Sale of Modern Office Building
Vendor
Henderson Global Investors
Purchaser
British Rail Pension Fund
Terms
Sold for £24.875m to show a net initial yield of 5%.
Date of Deal
Our Role
Drivers Jonas negotiated the sale of this 72,000 sq ft office building, let to six tenants at a passing rent of £1.3m from nine leases on behalf of Henderson Global Investors. This sale at considerably in excess of expectations to the British Rail Pension Fund reflected the growth potential of the central Glasgow office market and the enthusiasm amongst investors to buy into this opportunity.