BAM Properties has confirmed the sale of its commercial property development in Glasgow, CONNECT110NS.

The development, which is located in the city's commercial and retail district, has been sold to Deutsche Asset & Wealth Management (Deutsche AWM).

It is thought the purchase price agreed for the site is around £70m.

Work to the building is still currently ongoing, but is expected to be completed in June 2015. It comprises of 143,000 sq ft of prime office space over eight floors, with 19,000 sq ft of retail space on the ground floor.


Parts of the building have already been let, with law firm Brodies set to occupy 25,000 sq ft, and chartered accountancy firm Grant Thornton occupying 15,056 sq ft on the eighth floor.

John Burke, Managing Director Properties, BAM Construct UK, commented: "BAM was the first developer to return to the commercial market in Glasgow. The support of £10m investment from the SPRUCE Fund was instrumental in going forward and we are delighted that we have delivered on that investment.

"The high level of interest from top class companies vindicates our decision to develop and we are delighted that the building has attracted an international investor of the calibre of Deutsche AWM.

"BAM Properties will continue to partner with DeAWM to manage the building through to completion and full occupancy."

(JP/CD)