£23m Paid for Pentagon Business Centre
19th June 2007
Highcross Strategic Advisers, with Ryden acting, has purchased Pentagon Business Centre, one of Glasgow’s most prominent buildings, for £23million. CB Richard Ellis sold the property on behalf of a private client.
Located within Glasgow’s International Financial Services District (IFSD) and immediately to the East of the Kingston Bridge, The Pentagon Business Centre extends to 285,741sqft and was once occupied by Buchanan Whisky.
Whilst originally constructed in the early 20th Century, the property has been considerably refurbished and reconfigured during the vendor’s ownership to provide an extensive range of flexible office, workshop, studio and self storage accommodation that houses almost 70 office tenants.
Bill Marley of Ryden added: “This high profile property provides Highcross with exciting potential for the development of new office accommodation whilst making further investment in the existing self store and flexible business space accommodation.”
Doug Smith of CBRE comments: “The Pentagon Business Centre has proven very successful over a number of years in attracting a diverse range of occupiers from the business community by offering quality accommodation on flexible lease terms.”
