Hermes swoops on Glasgow's sprawling Skypark

The Skypark campus comprises six office buildings, known as Skypark 1-6, and three development sites. Picture: Andy Buchanan Photography

Hermes Investment Management has acquired Skypark in Glasgow's Finnieston area where more than 4,000 people are employed across a range of businesses.

The Skypark campus comprises six office buildings, known as Skypark 1-6, and three development sites. It is currently 70 per cent let to 12 tenants, including Axis, Capita, Fleet Alliance and Hub West Scotland. The acquisition is for an undisclosed sum.

Chris Taylor, head of private markets at Hermes Investment Management, said: “Our long-term investment strategy focuses upon those locations which will benefit from enhanced infrastructure and public realm, and buildings which offer active management potential.

“Skypark is an attractive high income return asset, which is significantly below replacement cost, and allows us the opportunity to manage and introduce our ‘place-making’ experience and initiatives to deliver added value.”