A landmark former department store that has been transformed into a mixed-use building has been sold.
Real estate advisor CBRE said it has completed the off-market sale of The Forsyth Building in Glasgow on behalf of Ambassador Group.
It was purchased by a London-based private investor for £9.7 million, represented by Landswood De Coy.
Sited on the corner of Gordon Street and Renfield Street in the heart of Glasgow city centre, The Forsyth Building comprises a landmark Grade-B listed, mixed-use office and retail/leisure building.
Historically known as Forsyth Department Store, the building was recently refurbished by Ambassador Group.
It is currently let to tenants including Burger King, Greggs, Miller Samuel, Moray Group, Davies Group and Digitonic.
Martyn Brown, director at CBRE, said: “We’re pleased to confirm the off-market sale of this quality, mixed-use asset.
"With a strong tenant mix and a prime location, the sale offers the purchaser the potential to take advantage of multiple asset management opportunities.”
Chris Richardson, managing director of Ambassador Investments, said: “We’re delighted to be able to complete our asset management plan and sell this iconic piece of Glasgow architecture, which is now a thriving mixed-use building, to a buyer who we believe has the same passion for the asset and for Glasgow as we did.
"We undertook a significant refurbishment of the building during our ownership and worked hard to deliver a sustainable and accessible building with great tenants.”
'Slice of Scottish paradise' for sale
A broadleaf woodland in what is described as a “spectacular glen setting”, offering private access to a stretch of the River Lyon, has been put up for sale at offers over £100,000.
West Invervar Wood & River in Perthshire is being marketed by John Clegg & Co.
Shepherd and Wedderburn reports strong deal activity
Legal firm Shepherd and Wedderburn has reported a solid 12 months, supporting clients with a mix of strong deal volumes and advisory work.
The Scottish-headquartered firm which has offices in Edinburgh, Glasgow, Aberdeen, London, and Dublin, said that in the year to April 30, 2023, its banking and finance team advised clients including banks, financial institutions, public bodies, and corporate borrowers on over 140 deals with a total value of more than £125 billion.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel