Largest office acquisition in Glasgow - Pramerica Real Estate Investors Ltd (141 Bothwell Street, Glasgow)

In the highest value investment deal in Glasgow in 2011, Brodies advised Pramerica on the acquisition of 141 Bothwell Street for more than £70 million. Developed by PPG, the building was one of the most recently completed Grade A office buildings in the city centre, occupied by tenants including Shell, HSBC and PricewaterhouseCooper.

In a highly-competitive bidding process Pramerica secured the property and went on to complete the acquisition at the end of the year.

Brodies completed all due diligence on the deal, advising the clients on property, planning and construction. Once the acquisition was completed, Brodies assisted in securing debt financing against the property. It is now almost completely let, apart from one-half floor, which our client is now seeking to market.