Picton Capital completes £14.2m Glasgow office building deal

180 West George Street
180 West George Street

Property investment firm Picton Capital has bought 180 West George Street in Glasgow, which counts TSB Bank, Standard Life and Michael Page among its tenents, for £14.25 million.

The 52,100 sq ft office building property, which was build in 2000, comprises basement, ground and six upper floors and is fully let, generating net rental annual income of £1.18 million, equivalent to an average rent of under £23 per sq ft.

The building had been marketed as inviting offers “in excess of £15 million”.



The seller details have not been disclosed.

Michael Morris, chief executive of Picton Capital, said: “This is our third income accretive acquisition in as many months and combined we have now invested over £51 million with a blended yield of 7.7 per cent and an average income maturity profile of over six years.”

Picton Capital acts as investment manager for London stock market-listed Picton Property Income.

Share icon
Share this article: