A client of Knight Frank Investment Management has put up a prime Glasgow office on the market, making it one of the biggest office property sales in the city this year.
The property on 122 Waterloo Street is used by Morgan Stanley as its largest European office outside of London, housing over 2,000 employees.
The nine-story building offers 14,584 m2 of Grade A office space and is one of the most sustainable buildings in Glasgow, boasting an EPC A rating and BREEAM "Excellent" certification.
Amenities include a Nuffield Health gym and fitness centre, comfortable break areas, spaces for collaboration and relaxation, an in-house restaurant, and facilities to promote employee wellbeing.
John Rae, head of office at Knight Frank Glasgow, said: ‘122 Waterloo Street is a prime asset located at the heart of Glasgow’s International Financial Services District, backed by a very strong covenant in Morgan Stanley – particularly given its ‘mission critical’ status. Glasgow has seen an upturn in deal activity in the first few months of 2024, so we expect to see a good level of interest, with buyer and vendor expectations moving closer together as interest rates appear likely to stay higher for longer.’
Murray Strang, managing partner for Scotland at Cushman & Wakefield, added: ‘In terms of building quality, tenant covenant, and resultant income security, not to mention the strong opportunity for rental reversion and future potential for value uplift, this opportunity should be highly attractive for a range of international investors and parties considering investment into a leading, regional UK office market.” ‘
Developed by HFD Property Group and opened in 2018, 122 Waterloo Street won an award for being Scotland's top workplace in 2020 at the British Council for Offices (BCO) awards. It is located within Glasgow’s Central Business District.
Knight Frank Investment Management and Cushman & Wakefield are handling the sale.
