STV headquarters in Glasgow sold in deal worth £37m

Scott Wright

4 June 2024 at 11:28 pm·1-min read

STV, Pacific Quay, Glasgow <i>(Image: Newsquest)</i> — STV, Pacific Quay, Glasgow *(Image: Newsquest)*

The headquarters of STV in Glasgow is one of two buildings in Scotland which have changed hands for a combined £36.6 million.

LondonMetric Property has sold the broadcaster’s Pacific Quay home and an 85,000 square feet office in Dundee which is occupied by telecommunications giant BT to a single buyer.

STV has a further 17 years to run on its lease for the 60,000 sq ft premises while the BT deal on Tayside runs for 17 and a half years.

LondonMetric acquired the assets when it merged with LXi REIT (real estate investment trust) in March this year.

Andrew Jones, chief executive of LondonMetric, said: "These are good, well-let assets. However, we continue to exit non-core sectors and geographies and reinvest in sectors where we have a competitive edge, and which are enjoying a structural tailwind."

LondonMetric was advised on the sale by Lismore Real Estate Advisors.

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