LONDON (Alliance News) - Picton Property Income Ltd on Tuesday said it has acquired the 180 West George Street office property in Glasgow for GBP14.3 million.
The purchase price for the property reflects a net initial yield of 7.8%.
The property offers 52,100 square foot of office accommodation and currently products a net annual rental income of GBP1.2 million.
Shares in Picton were up 0.5% to 72.84 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Picton Prop (PCTN)