International Investment Gate (IIG) has acquired 158-160 West Regent Street on behalf of one of its private clients. The building dates back to the early 1890s, with 20,000 square feet of office space spread over what was previously a church and an adjoining institute for educational and social activities, and is fully let to architecture practice Keppie Design until 2030.
Knight Frank acted for IIG on the Sharia-compliant deal, while Keygate Capital Real Estate Advisors represented the vendor. The transaction comes after IIG struck a handful of deals for offices in England’s major regional cities earlier this year, having broadened its reach beyond London and the south east for investment opportunities.
IIG chief executive Dr Mohammed Alswaidan said: “We are delighted to have advised and structured the acquisition of this well-known Glasgow city-centre office building for one of our private clients. The property delivers an attractive income stream until 2030 whilst also offering numerous asset-management possibilities to enhance value in the long term.”