Former Glasgow tobacco factory changes hands for £41m

The office building is a major Glasgow landmark. Picture: Contributed
Share this article

Property investment and development firm Wirefox has extended its UK portfolio with the £41 million acquisition of a landmark office building in Glasgow.

The Northern Irish company has completed the purchase of City Park – which at one time was a tobacco and cigar factory employing thousands of workers – on the edge of Glasgow city centre.

The 294,000 square foot building underwent major redevelopment works in 2002 to convert it to office space, and is currently occupied on a multi-let basis by a variety of tenants.

Wirefox was advised by Scottish law firm MacRoberts and Derek Paterson of DPL, a specialist investment property advisor, alongside Belfast-based solicitors Davidson McDonnell.

The City Park deal is the latest in a number of key Scottish purchases made by Wirefox, with the firm having completed the £43.5m acquisition of Glasgow’s Capella building in August.

This followed the purchases of Glasgow’s Rockford portfolio and Silvan House in Edinburgh earlier this year, while last year Wirefox acquired the Southergate Centre, a major retail-led asset in Dumfries town centre.

More from Business