Glasgow’s Portcullis House is up for sale, which has just shy of 100,000 square feet of office space.
The development has six upper floors and a short-term lease until 1 April 2021.
Andy Cunningham, a senior director at CBRE, said: “The launch to the market of Portcullis House represents an exceptionally rare opportunity to secure a centrally located property, with a number of options to reposition the building via full-scale redevelopment and the potential to significantly increase the net useable accommodation.”
The development is yards away from Charing Cross and in close proximity to prominent developments including Scottish Power’s 220,000 sq ft HQ, Starwood Capital’s 172,000 sq ft St Vincent Plaza development and Moda Living’s build-to-rent development on the former Strathclyde Police HQ.
The property will be sold subject to a short term lease from The Secretary of State for Housing, Communities and Local Government until 1 April 2021 at a rent of £500,000 per annum exclusive of VAT.
This post has originally been featured in Property Wire.