Member Article

Lateral purchases flagship Glasgow retail building for £2.3m

The Harrogate-based Lateral Property Group has purchased 177 Ingram Street, Glasgow on a sale-and-leaseback with Jigsaw for £2.3m.

The property is an open-plan former Victorian banking hall with retail accommodation of over 10,000 sq ft arranged over ground and basement levels.

Marcus Briggs, retail development director of Lateral Property Group, said: “Glasgow is one of Europe’s best cities for retail and leisure and is a City where we would like to invest further.

“Ingram Street is fast becoming the City’s prime pitch for aspirational fashion brands with Hugo Boss now joining the likes of Agent Provocateur, Mulberry, Ralph Lauren and Cruise.

“We are delighted to have acquired such a significant building directly next door to the Corinthian Club.”

Lateral had previously missed out on acquiring the former RBS building on the corner of Queen Street and Ingram Street.

The building is now being developed by BAM as a flagship office/retail scheme comprising 143,000 sq ft, which promises to further enhance Ingram Street’s appeal.

Ewan Mackay of SGM Property Consultants represented Lateral and Orme Retail Ltd represented Jigsaw.

This was posted in Bdaily's Members' News section by Mark Lane .