Sale of Daily Record home is latest multi-million office deal on major Glasgow thoroughfare
“We remain very positive about Glasgow city centre” – spokesperson for HKIP
A Glasgow office building that is home to the Daily Record and Sky has changed hands in a multi-million-pound deal.
The sale of 55 Douglas Street marks the sixth major transaction along one of the city’s main commercial thoroughfares in the space of 18 months.
The landmark office building, which sits on the corner of Douglas Street and Waterloo Street, has changed hands with property agency Knight Frank acting for the buyer, HKIP, while CBRE represented the seller.
Located in the heart of Glasgow’s International Financial Services District, the building has recently been “comprehensively refurbished” to provide 85,099 square feet of Grade A office accommodation over six storeys. Its current occupiers include publisher Reach, owner of the Daily Record and other titles, and media giant Sky.
HKIP said it plans to carry out “enhancements” to the common areas and amenities in 55 Douglas Street, further improving the building’s offering.
The deal is the latest in a series of office sales on Waterloo Street since the beginning of 2025. In that time, Sentinel, Central Exchange, Atrium Court, Alhambra, and 58 Waterloo Street have all changed hands for a combined £63m. The exact value of the 55 Douglas Street deal has not been disclosed.
Douglas Binnie, capital markets partner at Knight Frank Glasgow, said: “55 Douglas Street is a great ‘value‑add’ opportunity in the heart of Glasgow. The building has already undergone a high‑quality refurbishment and, with further enhancements planned, it offers immediately available space at a time when Grade A supply is highly constrained in the city centre. That is one of the reasons why we have seen so much activity on Waterloo Street over the last 18 months, as more investors look to capitalise on that trend.
“Under its new owner, 55 Douglas Street is well positioned to meet the needs of a range of occupiers and capture the growing appetite for flexible, best‑in‑class workspace in Glasgow,” he added.
A spokesperson for HKIP said: “55 Douglas Street represents exactly the type of opportunity we are looking to acquire - a high-quality, well-located building where we can see a clear route to creating further value through active asset management.
“The building has benefitted from significant recent investment and provides excellent Grade A accommodation at a very competitive entry price, and we plan to enhance its offering even further. With an established occupier base alongside good-quality space immediately available to let, we believe it is particularly well positioned to benefit from the continued flight to quality we are seeing across the Glasgow office market.”
He added: “We remain very positive about Glasgow city centre and believe the combination of the building’s location, specification, and occupational flexibility gives us a strong platform from which to drive further leasing activity and enhance the asset over the coming years.”
A recent report showed that Glasgow’s office market had recorded its strongest first half in eight years.
Property experts also noted that the Edinburgh market had held firm in the first six months of 2026, with the two cities’ resilience bucking the wider UK regional office market.
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