CBRE sells Glasgow office building

Leading real estate advisor CBRE has announced it has completed the off-market sale of an office building in Glasgow city centre on behalf of Patrizia for in excess of £5.5million.

84-94 St Vincent Street, which is home to a wide range of occupiers including Pizza Punks on the ground floor, and Interstate Hotels, Crawford & Co and Visit Scotland, on the upper floors, has been purchased by a private investor. It comprises 42,343 sq ft of office and retail space over basement, ground and seven upper floors.

Strategically positioned within the Central Business District, the Category A listed building occupies a highly prominent location on the north side of St Vincent Street between its junctions with Renfield Street and West Nile Street.

Commenting, Martyn Brown, director from 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.