Hermes to refit Glasgow office

ONE of the largest property managers in the UK will spend £8.5 million to refurbish an office building in Glasgow.

Hermes Real Estate Investment Management said a shortage of prime grade A property in the city meant it was “high time” to start work on 151-155 St Vincent Street.

Ian Cody, senior asset manager at Hermes, said: “With such limited development in the pipeline in Glasgow, it is only a matter of time before occupier demand for grade-A space begins to outstrip supply in the city centre.”

The work will be completed in the second half of 2012.