Guildhall is a multi-let office & retail investment in the heart of Glasgow. CuthbertWhite advised Rockspring on the asset’s original acquisition shortly before the Scottish Independence Referendum in 2014 and assisted with implementing the asset management strategy, including a number of lease re-gears throughout the hold period. We advised on its eventual sale during the global pandemic to Maya Capital for £29.6m, showing a net initial yield of 9.5% and £210 per sf capital value - one of Glasgow’s most significant sales in 2020. Guildhall is fully let to office tenants Clydesdale Bank and News International until 2024 with 10% of the income let to a variety of retail tenants on the ground floor. The asset has shown resilience during challenging times and delivered a robust return for our client.
CuthbertWhite were key in identifying Guildhall as an opportunity and thus helping us maintain our track record of closing a deal per month since the launch of UK Value 2. We continue to work with them in sourcing opportunities and can rely on their considered advice.
Richard Bain