Capella, 60 York Street
Capella is a Grade A commercial building, which is ideally located in the heart of the International Financial Services District (IFSD), Glasgow, Scotland. Built in 2009, the building is the centre piece of Glasgow’s ambitious IFSD district, designed to be a highly attractive environment for indigenous and overseas firms in finance and related sectors.
Property type: Multi-Let Grade A Commercial Building
Address: York Street, Glasgow, United Kingdom
Property acquired: 2017
Property status: Holding and rental reversions
Lot size: 115,377 sq. ft.
· Opportune timing on purchase after Brexit
· Building was bought with some vacancies and guarantees.
· Repositioning of new tenants with active asset management program has driven up rents
· Active asset management, incremental building improvements, coupled IFSD’s continual development and shifting market trends within Glasgow has helped further gains in overall rent reversions and value of the investment