Property round-up

Middle Eastern group in first Scottish deal

158-160 was originally a church

A prominent corner building in central Glasgow, which is home to architecture practice Keppie Design, has been sold to a Middle Eastern investment group, marking its first deal in Scotland.

International Investment Gate (IIG) has acquired 158-160 West Regent Street on behalf of one of its private clients for £4.95 million.

Knight Frank acted for IIG on the Sharia-compliant deal, while Keygate Capital Real Estate Advisors represented the vendor.

The Grade A listed building dates back to the early 1890s and is fully let to Keppie Design until 2030, with 20,000 sq. ft. of office space spread over what was previously a church and an adjoining institute for educational and social activities.

Having already struck a handful of deals for offices in England’s major regional cities earlier this year, the acquisition is IIG’s first in Scotland as it looks beyond London and the South East for investment opportunities.  

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