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| Protego purchases prime Glasgow office building Protego Real Estate Investors, advised by King Sturge has purchased a Grade A Glasgow city centre office building from ING Real Estate for a figure of £6 million, reflecting a net initial yield of 7.76% rising to 9.4% on letting of the vacant floor. 220 St Vincent Street was substantially refurbished in 2007/8 and is arranged over six floors, extending to 25,461 ft² (2,363.68 m²), together with 17 car parking spaces. The current passing rent is £492, 658 per annum and the tenants include CIGNA Life Insurance, Towry Law Financial Services and Hiscox Insurance Company. There is one floor remaining available. write your comments about the article :: © 2009 Construction News :: home page |