Knight Frank Investment Management and Korean asset manager Multi Asset Global Investments, a wholly owned subsidiary of Mirae Asset Global Investments, have exchanged contracts to acquire 122 Waterloo Street, Glasgow.
The 155,000 sq ft office building was developed and sold by the HFD Group.
The investment has been acquired on behalf of a consortium of Korean institutional investors led by Multi Asset.
Kevin Aitchison, chief executive at KFIM, said: “Exchanging contracts to acquire Waterloo Street is our third transaction on behalf of Korean clients.
“Waterloo Street is arguably the best building in Glasgow which, combined with a limited supply of new grade-A space and improving rental growth, provides strong future performance potential.
“We are currently engaged in a number of other projects in both the UK and the continent on behalf of a variety of other Korean investors and continue to seek new opportunities to meet their investment targets”.
Knight Frank advised KFIM; GVA represented HFD.
To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette
