Alinor Capital Management and Sterling Property Ventures have acquired The Bond office scheme in Glasgow for £15m+.
Located on Queen Street, the former home of Clydesdale Bank comprises 145,130 sq ft of space, including approximately 16,500 sq ft of ground floor retail space and more than 128,000 sq ft of office space spread across seven additional floors.
The building recently underwent an £8.8m refurbishment, which saw its Baroque-style façade restored and a new ground floor reception, meeting spaces, a café, tenant lounge and wellness and commuter facilities added.
Alex Mahler, co-founder and partner at Alinor Capital Management, said: “We are very pleased to have completed the acquisition of The Bond. As the ‘flight to quality continues, demand for best-in-class space is outpacing supply. The opportunity to work with a first-class operator such as Sterling to acquire, upgrade and re-let a core asset like The Bond represents a compelling investment opportunity in the current environment and reflects a strategy that is a key focus in our pipeline.”
James Howarth, managing director of Sterling Property Ventures. added: “We have a track record of delivering best in class workplaces, focused on providing flexible solutions for occupiers and creating better working environments for their staff, improving efficiency and retention. We have exciting plans to transform The Bond and are delighted to be collaborating with Alinor on this investment.”
Ryden advised the purchasers and Savills acted for the vendor.
