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11/02/2025
Buchanan Street And Royal Exchange Square Properties Sold
Savills has brokered the sale of 98 Buchanan Street and 31 Royal Exchange Square, Glasgow, to Cervidae for £13.775 million.
The sale marks the conclusion of Old Park Lane Management's (OPLM) asset management plan in Scotland, as the company focuses on its core strategy of large-scale development in central London.
98 Buchanan Street comprises 21,498 sq ft of prime retail space and is currently leased to Lush for its flagship Scottish store on a 12-year lease. 31 Royal Exchange Square totals 9,402 sq ft and is let to Italian restaurant Banca di Roma on a six-year lease.
"We were delighted to represent OPLM in this disposal, the conclusion of which follows a flurry of activity on Buchanan Street, with more than £25 million placed under offer at the end of 2024," said Eilidh Levein, Associate in the Scotland investment team at Savills.
The sale marks the conclusion of Old Park Lane Management's (OPLM) asset management plan in Scotland, as the company focuses on its core strategy of large-scale development in central London.
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98 Buchanan Street comprises 21,498 sq ft of prime retail space and is currently leased to Lush for its flagship Scottish store on a 12-year lease. 31 Royal Exchange Square totals 9,402 sq ft and is let to Italian restaurant Banca di Roma on a six-year lease.
"We were delighted to represent OPLM in this disposal, the conclusion of which follows a flurry of activity on Buchanan Street, with more than £25 million placed under offer at the end of 2024," said Eilidh Levein, Associate in the Scotland investment team at Savills.
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