Buchanan Street Retail & Office Property in Glasgow Achieves Full Occupancy

Press Release (ePRNews.com) - GLASGOW, Scotland - Jul 27, 2016 - Lothbury Property Trust’s (LPT) prime retail and office property at 78-90 Buchanan Street and 9-17 Exchange Place, Glasgow is now fully let.

The first floor, which comprised 3,565 sq ft of Grade A office accommodation, has been split into two suites of 2,211 sq ft and 1,342 sq ft, following interest from BNP Paribas Real Estate.

BNP Paribas Real Estate has taken the former suite, with Drum Property Group moving into the latter. Both suites have been let at £17.00 per sq ft.

Lothbury purchased the Buchanan Street and Exchange Place site in Glasgow in June 2013. The 35,000 sq ft property comprises retail, leisure and offices.

Mike Toft, Senior Fund Manager at Lothbury Investment Management Limited, said: “This superb asset is undoubtedly located on one of Scotland’s prime retail and office locations. We are delighted that the building has continued to attract quality tenants and is now fully let.”


Notes for editors

·         Lothbury Investment Management Limited (LIM) is an independent UK real estate investment manager with £1.8 billion assets under management, as at Q4 2015.

·         The LIM Senior Fund Management team has worked together for almost 20 years and has a track record of delivering outperformance for investors

·         Lothbury Property Trust (LPT) is the flagship fund for LIM, providing investors with access to the UK property market. In addition, LIM manages the Clarendon Unit Trust and the Secure Income Portfolio.

·         Lothbury Property Trust holds £1.5 billion assets under management and is a balanced property unit trust providing exposure to the UK office, retail, industrial and ‘other’ sectors and is geographically spread across the UK.

·         The Fund delivers an innovative investment solution through a core/active strategy that comprises a predominantly core portfolio of prime assets to achieve stability of return combined with active management initiatives to create additional value and an enhanced return for the investor.

·         LPT recorded an annual performance of 13.1% against the AREF/IPD UK Quarterly Property Funds Indices, All Balanced Property Fund Index Benchmark performance of 12.5% for the year ending 31 December 2015. The fund also outperformed over 3, 5 and 10 year periods, and is upper quartile over 5 and 10 years.

·         More information on LIM and LPT can be found at www.lothburyim.com.

Source : Lothbury Property Trust

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