New owner of Glasgow offices plans expansion
A central Glasgow office block will be doubled in size under plans announced by Clearbell Property Partners IV, a new fund which has acquired the building.
The acquisition of 150 St Vincent Street from a fund managed by PineBridge Benson Elliot is the first by the new owner.
The building’s 69,000 sq ft of space across eight storeys is fully let and Clearbell wants to increase capacity to 152,000 sq ft by extending the floor plates and adding four storeys.
Clearbell is also working towards carbon neutrality for the entire lifecycle of the building.
Nick Berry, partner at Clearbell Capital, said: “As we have seen since the end of lockdown, quality workspace in the right areas continues to attract tenants and to generate good rental income. Glasgow has long been a centre for business and is bouncing back from the impact of the pandemic.