Former NatWest building on iconic Glasgow square bought in seven-figure deal

The new owner of 14 Blythswood Square now plans to undertake a “comprehensive refurbishment” with the aim of creating modern “high quality” office space. Newly formed company N4 Property, part of Glasgow-headquartered investment firm N4 Partners, has acquired the iconic building for an undisclosed seven-figure sum. It marks the property arm’s first deal.

Bosses said the building benefited from a prime corner position in what is regarded as one of the city’s premier locations. Highlighting its history and “green space outlook”, they added that the property is expected to generate strong occupier demand.

Richard Elliott joined N4 in October last year signalling a strategic move into property for the investment and advisory firm. N4 said the maiden acquisition would be the first of “numerous” developments planned within the group’s portfolio, covering a wide spectrum of property projects including commercial, industrial and residential.

Elliott said: “We’re delighted to complete N4 Property’s first acquisition in such an iconic location. We have a well-considered occupational strategy already in place and look forward to restoring the building back into a high quality, modern commercial office.”

Last June, the firm’s N4 Ventures offshoot launched its maiden venture capital fund. It has a targeted fund size of £3 million to £5m, and aims to invest £100,000 to £750,000 in up to 20 high-potential Enterprise Investment Scheme/Seed Enterprise Investment Scheme qualifying companies emerging throughout the UK, with a focus on tapping into its “extensive” network across Scotland.