Printer Friendly

Ambassdor LB makes PS5m purchase.

THE PS5M acquisition of Hanover House, a vacant office building in Glasgow city centre, has taken the total capital committed by Ambassador LB to the Scottish market in the past year to PS100m.

Ambassador LB Holdings LLP is a joint venture between privately-owned Glasgow-based property investor Ambassador Group, founded by David Gaffney, and specialist investment manager ICG-Longbow. Hanover House was its fifth investment. ICGLongbow has provided debt and equity funding with Ambassador Group acting as asset manager and committing equity.

Along with the purchases of RWF House and Granite House - one of the largest office acquisitions in Glasgow last year by a UK investor - Ambassador LB has now spent more than PS60m in the city.

It is now stepping up its investment and targeting off-market, value-add assets across all sectors in Scotland. Its current portfolio includes Prudential's largest UK office campus near Stirling.

No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2018 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Features
Publication:Insider Monthly
Geographic Code:4EUUK
Date:Mar 9, 2018
Previous Article:Eden Mill plans new PS4m project.
Next Article:"Town size" development launched.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |