Leading property investment firm acquires 294,000 sq ft City Park building
Leading property investment and development firm Wirefox has extended its UK portfolio with the £41 million acquisition of a landmark office building in Glasgow.
The Holywood-based firm has completed the purchase of City Park, a 294,000 sq ft building on the edge of Glasgow city centre.
Formerly the W.D. and H.O. Wills tobacco and cigar factory, which employed over 3,500 people, the five-storey building underwent major redevelopment works in 2002 to convert it to office space, and is currently occupied on a multi-let basis by a variety of high-profile tenants.
Wirefox was advised by law firm MacRoberts LLP and Derek Paterson of DPL, a specialist investment property advisor, alongside Belfast-based solicitors Davidson McDonnell.
The City Park deal is the latest in a number of significant Scottish purchases made by Wirefox, with the firm having completed the £43.5m acquisition of Glasgow’s Capella building in August.
This followed the purchases of Glasgow’s Rockford portfolio and Silvan House in Edinburgh earlier this year, while last year Wirefox acquired the Southergate Centre, a major retail-led asset in Dumfries town centre.
In July it completed the purchase of CastleCourt shopping centre in Belfast for £125m from Hermes Investment Management.