APAM Buys Glasgow Offices

This a press article from the CoStar website: http://www.costar.co.uk/en/assets/news/2018/September/APAM-buys-Glasgow-offices/
APAM has bought 38 Cadogan Street, a 40,000 sq ft office building in Glasgow’s central business district, from LaSalle Investment Management for £7.3m.
The building is majority let to Wescot Credit Services and has one vacant suite ready for occupation.
Two major developments – Cadworks and The Grid – are coming forward immediately adjacent to 38 Cadogan Street.
Patrick Freestone, senior investment manager at APAM, said: “38 Cadogan Street is situated in one of Glasgow’s most exciting locations and provides a great opportunity for us to add value immediately through active asset management and capture future growth from a low passing rent. This acquisition follows the purchase of 160 Dundee Street in Edinburgh and highlights continued interest from APAM’s international investors in well-located commercial real estate opportunities in regional cities.
“We continue to actively seek core and core-plus opportunities for our joint-venture partners across key UK office markets, focusing on lot sizes ranging from £5m to £200m.”
Knight Frank represented APAM on the transaction; Ryden acted for LaSalle Investment Management.
Read the original article at: http://www.costar.co.uk/en/assets/news/2018/September/APAM-buys-Glasgow-offices/

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