Lismore advise on sale of iconic Glasgow office to Forma Fund

Lismore Real Estate Advisors has advised M&G Real Estate on the sale of Aurora on Bothwell Street, Glasgow to Forma Fund. The acquisition was Forma’s first in the UK.

Aurora was originally constructed in 2006 and extends to 173,950 sq.ft. It is let to six tenants, including Barclays, Aecom, Burness Paull LLP, BNP Paribas and Aggreko. The WAULT to nearest breaks was c.1 year.

The quoting price was £57.5m, reflecting a net initial yield of 8.00%.