Clearbell Property Partners IV, a fund managed by Clearbell Capital LLP, purchased the property from a fund managed by PineBridge Benson Elliot earlier this year.

The office building comprises 69,000 sq ft across eight stories. Clearbell has plans to double the size of the existing building to 152,000 sq ft, by seeking planning permission for the extension of the floor plates and the addition of four stories.

There are plans to refurbish the building to high sustainability credentials and to explore if Clearbell can create Glasgow’s first operationally carbon neutral office building and Glasgow’s first BREAAM Outstanding office. Clearbell is also looking at working towards carbon neutrality for the entire lifecycle of the building.

A design statement submitted with the application by St Vincent Property Ltd explained: “The project brief is for a full back-to-frame refurbishment and extension to the back of the site in order to provide circa 151,000 sq ft of Grade A office space. The provision of roof terraces is included in the new development, as well as amenity spaces such as cycle storage and a gym.

“Additional stories are stepped back on the upper floors to allow large roof terraces for the tenants that maximise the views across the city. The rooftop extension is intended to grow out of the rear block and allows the building height to broadly align with the Beacon building on the opposite corner of Wellington Street.”

The statement added: “The renewed office building will be an attractive improvement to the central business district and Blythswood area of Glasgow City Centre, aligning with Glasgow City Council’s aspirations to establish a modernised identity to the area.”