Glasgow Office Space Bought For £70 Million

An American-based real estate investment management firm has acquired some Glasgow office space for the sum of £70 million.Pramerica Real Estate Investors has purchased 175,000 sq. ft. of Grade A office

---------------, United Kingdom (prHWY.com) January 11, 2012 - An American-based real estate investment management firm has acquired some Glasgow office space for the sum of £70 million.
Pramerica Real Estate Investors has purchased 175,000 sq. ft. of Grade A office space on Bothwell Street, in Scotland on behalf of a client.

The city centre office space reportedly has outstanding environmental credentials and was the very first office building in Glasgow to be awarded a BREEAM 'Excellent' sustainable rating which has obvious benefits including boosting a business' credibility, pride in a brand and reducing carbon footprint.

Friedrich von Carlowitz, Portfolio Manager of Pramerica, said: "141 Bothwell Street is one of the highest quality office assets in Glasgow, as demonstrated by its Excellent BREEAM rating, overall standard of fit-out and the quality of the tenants, and we are very pleased to have been able to take advantage of this investment opportunity."

"We believe that the Glasgow office market offers one of the best risk-return-profiles in UK right now, and, with a relatively small amount of Grade A space available, this deal represents excellent value which we are confident will generate good returns on behalf of our investors."


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Media Contact Details
Name: Official Space
Company Name: Official Space
Telephone Number: 0845260551
*Email: info@officialspace.co.uk
Language: English

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Tag Words: glasgow

Categories: Business

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