MacRoberts advises property investment firm on acquisition of City Park building
MacRoberts LLP has advised property investment and development firm Wirefox in its £41 million acquisition of a landmark office building in Glasgow.
Wirefox, a Northern Ireland-based firm, has completed the purchase of City Park, a 294,000 sq ft building on the edge of Glasgow City Centre with assistance from MacRoberts’ Real Estate team, led by Partner Kelsey Gibson.
Formerly the W.D. and H.O Wills tobacco and cigar factory, which employed over 3,500 people, the five-storey building underwent major redevelopment in 2002 to convert it to office space, and is currently occupied by a variety of high-profile tenants.
The City Park deal is the latest in a number of significant Scottish purchases made by Wirefox, with the firm having completed the £43.5 million acquisition of the Capella building, home to MacRoberts’ Glasgow office, in August. This followed the purchases of Glasgow’s Rockford portfolio and Silvan House in Edinburgh earlier this year, while last year the firm acquiered the Southergate Centre, a major retail-led asset in Dumfries town centre.
Derek Paterson of DPL, a specialist investment property advisor, and Belfast-based solicitors Davidson McDonnell, also advised Wirefox in the City Park deal.