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38 Cadogan Street in Glasgow sells for £7.3m

28th September 2018

LaSalle Investment Management has sold 38 Cadogan Street, a 40,000 sq ft office building in Glasgow’s central business district, to APAM for £7.3m, an initial yield of 4.8%.

LaSalle IM bought the building in 2014 and subsequently let four floors to existing tenant, Wescot Credit Services, advised by Ryden. One vacant floor remains.

Ian Dougherty, Ryden Investment Partner acting for LaSalle IM, said “Cadogan Street is entering an exciting new phase with two of the most significant office developments in central Glasgow - Cadworks and The Grid – due to complete within the next three years. Having improved the income profile of the building through an aggressive refurbishment and letting strategy, it was a suitable time for LaSalle to move the building on."

Knight Frank represented APAM.

Categories Deals Investment

Ian Dougherty

Ian is Head of the Investment and Finance Group in Glasgow. His day-to-day role incorporates the acquisition, sale and funding of properties in every sector, specialising in the West of Scotland.

Having previously worked for a plc property company for a number of years, Ian’s experience incorporates a broad range including development, asset management and valuation, which he is able to draw upon when advising clients.

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