MERCHANT Square, the bar and restaurant destination which is part of Glasgow's Old Fruitmarket, has been acquired by the Clydebuilt Fund in a multi-million pound deal.
Clydebuilt, owned by the Strathclyde Pension Fund, has acquired the property alongside four bar and restaurant units on nearby Candleriggs for £9.5 million. The assets were previously owned by Merchant City Properties.
Merchant Square's tenants include venues such as Metropolitan, Arisaig and Beer Cafe. They now sit in a portfolio alongside the Candleriggs units home to Khublai Khan's, Guy's, Merchant Pride and Wild Cabaret.
Plans are now being drawn up to enhance and improve the properties, as well as to bring redundant space in Merchant Square back into use.
Strathclyde Pension Fund, which is administered by Glasgow City Council, created the Clydebuilt Fund to invest in assets under £10 million across the former Strathclyde region.
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