Off-market sale

The Arc offices snapped up in £2.4 million deal

The Arc: rarely available asset

Office development The Arc at Hillington Park has been acquired by Danobe Securities from a private client of asset manager HKIP in a £2.4 million deal.

The Arc comprises seven, single storey, self-contained office suites arranged in a curved terrace, totalling 21,128 sq ft. It is fully let to seven tenants including Sally Salon Services, GE Energy Power Conversion and FES FM.

Martyn Brown, director at CBRE, who acted for the vendor, said: “We are thrilled to have completed the off-market sale of The Arc on behalf of our client, representing a rarely available opportunity to acquire a fully let, high-yielding office investment situated in Glasgow’s dominant out of town business park.”

Ian Dougherty, partner from Ryden, represented the buyer. He added: “Ryden has been involved with The Arc on the letting side for a number of years and we know the scheme’s popularity with occupiers.

“This acquisition provides an attractive income yield for Danobe bearing in mind the quality of the asset and income stream.”

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