Danobe purchases The Arc in Hillington Park for £2.4m

Acting on behalf of Danobe Securities, Ryden has completed the purchase of The Arc in Hillington Park for £2.4 million. The vendor was a private client of the asset manager HKIP, represented by CBRE.

The Arc comprises seven, single storey, self-contained office suites arranged in a curved terrace. The buildings total 21,128 sq ft with individual unit sizes ranging from 2,454 sq ft to 3,853 sq ft. It is fully let to seven tenants including Sally Salon Services, GE Energy Power Conversion and FES FM.

Hillington Park is widely recognised as Glasgow’s premier business destination, located between Glasgow city centre and Glasgow International Airport. The 420-acre site is home to over 500 businesses, employs more than 8,000 people and provides around 4m sq ft of business space. It benefits from its own retail centre, restaurants, nursery and gym facilities, in addition to the significant amenities provided within Braehead Shopping Centre and the surrounding area.

Martyn Brown, director at CBRE, said:

“We are thrilled to have completed the off-market sale of The Arc on behalf of our client, representing a rarely available opportunity to acquire a fully let, high-yielding office investment situated in Glasgow’s dominant out of town business park.”

Ian Dougherty, Investment Partner at Ryden, added:

“Ryden has been involved with The Arc on the letting side for a number of years and we know the scheme’s popularity with occupiers.

"This acquisition provides an attractive income yield for Danobe bearing in mind the quality of the asset and income stream.”