The Scottish ministers’ office in Glasgow’s central business district has been put on the market.
JLL has been instructed to seek offers over £20m.
The building, 5 Atlantic Quay which sits on 150 Broomielaw, forms a part of Singapore-based Elite Partners Capital’s UK Commercial Fund III.
The firm bought the building in 2020 for £40m in a deal which was the largest for offices outside of London following the Covid-19 pandemic.
The office block spans 96,759 sq ft of grade-A workspace across eight floors and is entirely let to Scottish Enterprise and occupied by Scottish government ministers on an unexpired term of 5.4 years and 3.4 years to the break option.
The current passing rent is £33.82 per sq ft, reducing to £15.04 per sq ft from mid-July 2024.
The investment opportunity is being marketed for potential redevelopment, including office refurbishment/repositioning, purpose-built student accommodation, residential and hotel.
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