Scottish Enterprise building sold in £40m deal
A prominent office block on Glasgow’s Broomielaw, occupied by Scottish Enterprise, has been sold in one of the biggest UK deals outside of London during the pandemic.
150 Broomielaw has been acquired for about £40 million by Singapore-based Elite Partners Capital from a Jersey Trust, known only to be a private client of Knight Frank which advised on the deal.
Colliers acted for Elite Partners Capital, which intends to add 150 Broomielaw to its UK Commercial Fund III.
Under new owners: 150 Broomielaw
Developed in 2001, the 96,759 sq ft building over eight floors is situated in the heart of Glasgow’s International Financial Services District (IFSD), between Brown Street and James Watt Street.
John Rae, head of office at Knight Frank Glasgow, said: “The deal for 150 Broomielaw demonstrates the resilience of the commercial property market in Scotland – despite the wider economic uncertainty caused by the Covid-19 pandemic.