Media deal

Daily Record owner Reach sells Glasgow HQ

Sold: Reach headquarters on the Clyde (pic: Google maps)

The former Scottish headquarters of Reach, publisher of the Daily Record and Sunday Mail, has been acquired by property developer Downing.

Plans are now being worked on to redevelop the two-acre site on the north bank of the River Clyde close to the Kingston Bridge.

The 150,000 sq ft building has been largely vacated, with staff now working from smaller offices in Douglas Street. Reach signed a 10-year lease for the 14,298 sq ft of workspace at a rental of £29.50 per sq ft.

Paul Houghton, director at Downing, said: “This prime waterfront site presented an exceptional opportunity for us with many possibilities, and we are very excited to embark on transforming the site into something special.”

The company already operates two student accommodation sites in Glasgow: West Village and West View halls.

Downing operates sites across the UK, including Edinburgh, Bristol, Liverpool, London, Manchester and Newcastle. 

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