Mapeley has completed the sale of Ty Moelwyn, Porthmadog, a vacant 1,281 sq m / 13,789 sq ft office on the edge of the town. The property has been sold with the benefit of planning consent for a new 80 bed hotel.
Located at 21 India Street in the city centre, Portcullis House occupies a substantial site of 0.826 acres. Leading developer and manager of residential property for rent, Watkin Jones will redevelop the site to deliver a new Build to Rent scheme comprising circa 750 units. Plans for the new scheme include a co-working hub and communal amenity spaces offering spectacular view across the city.
Office building Portcullis House is currently let to The Secretary of State for Housing, Communities and Local Government until April 2021. The new development will form an important part of the renewal of the western part of Glasgow city centre and is set for completion in 2024.
Watkin Jones Group Investment Director Alex Pease said: “We are delighted to have secured a highly deliverable build-to-rent development site in Glasgow, a key target city for the Group. The site is located in a prime urban location within the business district with excellent access to amenities and local transport links. The transaction demonstrates our positive outlook for the Build to Rent sector across the UK.”
Andy Cunningham, senior director at CBRE, added: “It’s fantastic news that we can confirm we have successfully sold Portcullis House in Glasgow on behalf of our client Mapeley Investment Group Limited. The marketing campaign was carried out at the height of the Covid-19 global pandemic however the team still managed to generate significant amounts of interest and successfully completed the entire sales campaign for the rarely available site within just 76 days. This shows there continues to be strong investor interest for high quality sites in the right locations.
“We were extremely impressed with Watkin Jones’ plans for the site and look forward to seeing them coming to life over the next few years.”
CBRE represented vendor Mapeley Investment Group Limited whilst Lambert Smith Hampton acted for purchaser Watkin Jones.
Mapeley has completed two lettings at Manasty Road, Orton Southgate, Peterborough. Unit 2 (934 sq. m. / 10,053 sq. ft) has been let to Photocentric and Unit 3 (1,735 sq m / 18,675 sq ft) has been let to The Camper Factory.
Mapeley has surrendered the head lease of a vacant office building totalling 3,247 sq m / 34,950 sq ft in the centre of Belfast.
Mapeley has surrendered the head lease of a vacant office building totalling 3,352 sq m / 36,081 sq ft in the centre of Middlesbrough. The property is going to be converted into a school.
Mapeley has completed the letting of the entire 5th floor at Euston Tower, Euston Road to online retailer, Boohoo. The office floor comprises 927 sq. m./9.978 sq. ft.
Mapeley has surrendered the head lease of a vacant office building totalling 3,503 sq m / 37,706 sq ft on Winckley Square in the centre of Preston.
Mapeley has surrendered the head lease of an office building in Frome comprising 843 sq. m./ 9,074 sq ft to the freeholder. The building was fully underlet to March 2021.
Mapeley has surrendered a head lease on Crown House, Huddersfield, a vacant office building totalling 5,474 sq m / 58,922 sq ft on the edge of Huddersfield town centre.
Mapeley has completed the sale of Saltire House, Glenrothes. The building comprises a 2,801 sq m / 30,150 sq ft office located in Pentland Park, a mixed use business park south of Glenrothes town centre. The property is 50% let to various tenants.
Mapeley has completed the sale of Dorchester House, Belfast. The building comprises a vacant 10 storey office building totalling 5,046 sq m / 54,315 sq ft located on Great Victoria Street in Belfast City Centre.
Mapeley has completed the sale of a freehold office building close to the central retail area of Newton Abbot. The purchaser of the 35,500 sq ft (3,299 sq m) premises is Teignbridge Council and the offices were partly let to Devon Partnership NHS Trust.
Mapeley has leased 2,885 sq ft/268 sq m on the 6th floor of 11 Belgrave Road in Victoria, London to a property company.
Mapeley has let 12,529 sq m / 134,861 sq ft on various floors at Euston Tower, London
Mapeley has sold a 142 sq m freehold office at Garrison Point, Sheerness to a local occupier.
Mapeley has let 492 sq m on the ground floor at Dorset House, London SE1.
Mapeley has surrendered a headlease on Pattison House, an office building totalling 3,047 sq m / 32,798 sq ft on the edge of Walsall town centre in the West Midlands.
Mapeley has surrendered a headlease on Warwick House, an office building totalling 1,698 sq m / 18,277 sq ft in the centre of Redhill, Surrey.
Mapeley has completed 2 lettings totalling 1,896 sq m / 20,408 sq ft at Euston Tower, London.
Mapeley has completed the sale of Crown Buildings, St Helens. The building comprises a 2,969 sq m / 31,958 sq ft office building in the centre of St Helens, Merseyside.
Mapeley has surrendered a headlease on Staines Business Centre, an office building totalling 1,565 sq m / 16,846 sq ft in the centre of Staines, Surrey.
Mapeley has surrendered a headlease on Dukes Court, Woking. The space comprised 4,359 sq m / 46,920 sq ft in the 20,810 sq m / 224,000 sq ft office building in the centre of Woking, Surrey.
Mapeley has completed the freehold sale of a cleared site of 0.437 ha. to a developer for a residential led scheme.
Mapeley has completed the sale of Chaucer’s Walk, a 1,823 sq m / 19,623 sq ft office building on the edge of Blackburn, Lancashire.
Mapeley has completed the letting of 199 sq m on the part 1st and 2nd floors of 11 Belgrave Road to a charity.
Mapeley has completed the letting of 487 sq m on the 26th floor of Euston Tower.
Mapeley has completed the letting of 973.5 sq m on the 29th floor of Euston Tower to Digital Reality Corp Ltd.
Mapeley has surrendered its head lease of the whole building at 4-6 Southgate comprising ground and two upper floors, and has taken back a short term lease of the ground floor only.
Mapeley has completed the letting of 700 sq m on the 2nd floor, The Apex, Derriford Business Park to the Secretary of State.
Mapeley has surrendered a headlease on Athelston Court, Ripon an office building totalling 1,132 sq m / 12,185 sq ft on the edge of Ripon, North Yorkshire.
Mapeley has completed the sale of Ventanas House, Irvine, Scotland. This is a vacant 1,096 sq m / 11,797 sq ft office building located on the edge of Irvine town centre.
Mapeley has completed the sale of Swinson House, York. This is a vacant 1,561 sq m / 16,797 sq ft office building located in the city centre.
Mapeley has completed 2x lettings at Caledonian House, Dundee totalling 1,043 sq m / 11,227 sq ft to a government department.
Mapeley has completed the sale of Stone Cross House, Bolton. This is a vacant 2,829 sq m / 30,451 sq ft office building.
Mapeley has let 953 sq m on the 32nd floor of Euston Tower in London to a serviced office business.