Korean investor buys £48m Bank of Scotland HQ

A Korean investor has bought the iconic Bank of Scotland building at 110 St Vincent Street in Glasgow for £48.4 million in the largest office deal in Scotland’s biggest city this year.

Duncan Miller, director at Savills Investment Management, said: “The sale of 110 St Vincent Street demonstrates the ongoing appeal Glasgow’s property market, and caps a successful asset management programme during which we added significant value through extending Bank of Scotland’s lease.” 

Alex Braithwaite, senior investment manager at Knight Frank Investment Management (KFIM) said: “110 St Vincent Street is a prime asset that offers both longevity of income and strong performance potential. 

“KFIM now manages 10 assets on behalf of a broad range of South Korean investors and, notwithstanding the challenges of Brexit, this transaction clearly demonstrates continued confidence in the UK market.”

more to follow …