Energy company will make £10m from prompt sale of office purchased only last month

Article posted: 27 Nov 2010

The Herald Scotland has today reported rumours that Perth-based Scottish and Southern Energy are to offload offices in Glasgow purchased only a month ago, making a profit of around £10m.

 

The energy giant is said to be selling One Waterloo Street to Prupim in a 35-year sale and leaseback deal, committing itself as a long-term tenant in order to increase the value of the property. SSE paid upwards of £20m for the office space in Glasgow city centre, in the heart of the business and financial district.

 

The 58,948 sq ft grade A offices were acquired cheaply from Australia’s Halladale Group and the fast turnaround is seen as a smart move on the part of the energy company, who has spent a long time deciding on whether or not to take new office space in Glasgow city centre.

 

SSE staff will relocate to the new offices in January joining CBRE who sublease some of the accommodation at the landmark scheme.

 

Businesses seeking serviced offices in Glasgow or flexible office space in Lanarkshire will find a broad range of properties listed with Glasgow’s leading serviced office broker at www.freeofficesearch.co.uk. Call us on 0141 413 0474 to speak to a member of our team with expert knowledge of Glasgow’s serviced office market who will be able to assist you and save you money on your office rental.

 

Posted by Julie Tucker