CATELLA APAM COMPLETE THE SALE OF CALEDONIA HOUSE TO A US BASED REAL ESTATE INVESTMENT TRUST FOR £10.06M
Catella APAM (“APAM”), the specialist UK real estate asset manager, is delighted to announce the sale of Caledonia House in Cardonald Park, Glasgow for £10.06M on behalf of its pension fund client.
The property is located within Cardonald Business Park c. 4 miles southwest of Glasgow city centre and is in close proximity to the Queen Elizabeth University Hospital. Caledonia House serves as a government hub for NHS services including NHS 24, The Scottish Ambulance National Call Centre and the NHS Greater Glasgow and Clyde Health Board. The office building extends to 66,005 sq ft and is arranged over two floors and benefits from a 310-space car park.
William Grenfell, Senior Asset Manager at Catella APAM comments on the sale: “The sale of Caledonia House culminated in a competitive process which led to a strong result for our client highlighting the depth of demand from overseas investors seeking secure income streams from assets with robust occupier fundamentals. The sale will draw further attention to Glasgow’s office market which is currently seeing high levels of investor, developer and occupier activity.”