09 Jan 2012 | 05:00 pm |
Lawyers at international firm Pinsent Masons have advised on the sale of one of Glasgow's most prominent office buildings for a consideration of around £70m.
The firm, which is also a tenant at 141 Bothwell Street, has advised Strathclyde Pension Fund on the sale of the building to a client of Pramerica Real Estate Investors, the global real estate investment management business.
The 175,000 sq ft Grade A office building has now changed hands twice in recent years. In 2009 the property was sold by Premier Property Group, the commercial property investment and development arm of Sir David Murray’s Murray International Holdings, to Strathclyde Pension Fund for around £66.5m– a deal which lawyers at the firm also advised on.
Tom Ferrier, a Partner who led the team working on the deal, says:
"It's very pleasing to act for our client both on the acquisition and sale of the property and to help them achieve a very good outcome. It's clear that there remains a healthy demand for quality investment property. Our aim now is to build as good a relationship with our new landlords as we had with both previous owners!"
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