Lismore advise on £19.2m purchase of STV HQ in Glasgow for LXI REIT plc

Lismore Real Estate Advisors has advised LXI REIT plc on the acquisition of the STV HQ in Glasgow’s Pacific Quay.

The building extends to 60,778 sq.ft, with 150 car spaces, and is let to STV Central Ltd (subject to a guarantee from STV Group plc) for 20 years. Rent reviews are 5-yearly and are based on indexation of 1.5% p.a compounded.

The price of £19.2m equates to a net initial yield of 5.22%.