CO DOWN property investment firm Wirefox has added to its expanding UK portfolio with the £43.5 million acquisition of a landmark Glasgow office development.
The Holywood-based property company headed by BJ Eastwood has purchased the 100,000 sq ft Capella building, situated in York Street in the heart of the city’s International Financial Services District.
The major purchase follows hot on the heels of the £125 million deal to buy CastleCourt shopping centre in Belfast, completed at the end of July.
The largest single commercial property transaction to take place in Northern Ireland in recent years, Wirefox acquired the 365,000 sq ft retail complex from Hermes Fund Managers Limited.
The CastleCourt acquisition added to the growing property portfolio being accumulated by Wirefox, which includes £35 million of prime office space in Glasgow, the £18 million purchase of Silvan House in Edinburgh and the Southergate Centre - a major retail-led asset in Dumfries town centre.
The property developers also have a catalogue of retail and office assets across the north and in May extended its Belfast portfolio with the acquisition of the iconic flat-iron-shaped building on Victoria Street, home to Bittles Bar.
Built in 2009 as part of the final phase of the Atlantic Quay development the 10 storey Capella building comprises over 100,000 sq ft of prime office space and is home to leading Scottish law firm MacRoberts LLP and digital transformation firm Atos.
Derek Paterson of DPL, a specialist investment property advisor, acted for Wirefox in the purchase of the Capella building, while Belfast commercial law firm Davidson McDonnell advised Wirefox throughout the acquisition.
