Business

Co Down property firm Wirefox completes £41m Glasgow office acquisition

Holywood-based property firm Wirefox has completed the £41 million acquisition of City Park in Glasgow
Gareth McKeown

A HOLYWOOD-based property firm has added to its growing Scottish portfolio with the £41 million purchase of a Glasgow office building.

Property development and investment company, Wirefox has announced the acquisition of City Park, a grade B listed office building in the east of Glasgow city centre.

The building is the former W.D. and H.O. Wills tobacco and cigar factory and underwent comprehensive redevelopment in 2002. Current occupiers include Dell and Glasgow City Council.

The deal is the latest in a string of major Scottish office space acquisitions by Wirefox. In November last year the firm acquired the Rockford portfolio, comprising six office buildings in and around Glasgow city centre, for £35 million. This was followed by the £17.35 million purchase of Silvan House in Edinburgh, currently let to the Scottish Government and the £43.5 million procurement of Glasgow's Capella office building in August.

Closer to home Wirefox, which is headed by BJ Eastwood, completed the £123 million deal to buy Castle Court shopping centre in July - one of the largest single asset property transactions to have occurred in Northern Ireland. The property developers also have a catalogue of retail and office assets across the north and in May extended its Belfast portfolio with the acquisition of the iconic flat-iron-shaped building on Victoria Street, home to Bittles Bar.

Belfast commercial law firm, Davidson McDonnell represented Wirefox in its recent Scottish transactions and the Castle Court acquisition.

"Every investment Wirefox makes reinforces their position as a leading property and investment firm and we are proud to provide legal advice to them, throughout the growth of their UK property portfolio," Ross Davidson of Davidson McDonnell said.

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