Taylor Woodrow has struck a funding deal that will see the first speculative forward funding of an office scheme in Glasgow in 10 years.
KUC Properties, a subsidiary of Royal Bank of Scotland, has agreed to pay more than £20m to forward fund the new Cerium building in Cardigan Square.
The 6.875 sq m (74,000 sq ft) Cerium Development forms part of the Cadogan Square project, a driving force in the regeneration of the Anderston area.
Situated on the corner of Douglas Street and waterloo Street, the space is spread over large floorplates of up to 1,265 sq m (13,635 sq ft).
Jones Lang LaSalle acted for Taylor Woodrow and Fisher Wilson acted for KUC.
Property Week 29/06/01 page 128
