New owner for former Whyte & Mackay tower
310 St Vincent sold for double its price six years ago
One of Glasgow’s biggest office towers has been sold in a deal worth £20 million, close to double its value in 2015.
Praxis which acquired 310 St Vincent Street from whisky distiller Whyte & Mackay has offloaded the 70,000 sq ft building to Eagle Street Partners.
It is now let to a number of tenants including Cisco, Wescot Credit Services and solicitors Lawrie IP.
Praxis head of asset management James Hewitt said: “The sale of 310 St Vincent Street caps £100m worth of profitable exits for the group since the onset of the Covid pandemic, all ahead of business plan.
“The conclusion of our 310 St Vincent journey is particularly gratifying because it demonstrates that older properties can be rehabilitated, with technology retrofitted to substantially reduce energy consumption and operational carbon, while still delivering highly attractive returns.”
Knight Frank and Ryden represented Praxis, while FT Liden acted on behalf of Eagle Street.