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Hermes Investment buys Glasgow office campus from Lone Star for £78M

Hermes Investment Management bought the Skypark office campus in Glasgow for about £78 million, CoStar U.K. reported.

The company acquired the park, which is situated within the city's Digital Media Quarter and houses more than 4,000 employees, from private equity group Lone Star at a yield of 8.3%. The campus consists of six office buildings offering 508,144 square feet of offices, 8,573 square feet of shops and 21,530 square feet of warehouse and ancillary accommodation, according to the March 22 report.

Skypark also features three development sites, 695 parking spaces and a cafe, among others. The campus is 70% leased to 12 tenants that include Capita, V Group, DC Thomson, Axis, Fleet Alliance, Hub West Scotland and Herbert Engineering Corp.

Lone Star purchased the park when it acquired the £1 billion Project Laser, a portfolio of secondary mixed-used U.K. assets, in 2015 from Moorfield.