Shepherd and Wedderburn complete £41m property deal

Shepherd and Wedderburn has overseen the sale of a £41m Glasgow office development.

The firm acted for KBCSL as trustees of Rock City Park Jersey Unit Trust in the sale of City Park to property investment firm Wirefox.

Vikki Henderson, associate at Shepherd and Wedderburn, said: “We worked with the client together with the asset managers and managing agents, APAM, on the asset management of the property, which was crucial after the economic downturn.

“We are delighted that the market has now reached a point where the value of the asset has allowed the client to sell.” 

City Park – which at one time was a tobacco and cigar factory employing thousands of workers – is located on the edge of Glasgow city centre.

The 294,000 square foot building underwent major redevelopment works in 2002 to convert it to office space, and is currently occupied on a multi-let basis by a variety of tenants.