The deal will allow the council to close its remaining equal pay liability, with Phoenix noting that around 19,000 individuals will be positively affected by the settlement of the claim.
has raised more than £200 million against some of its most famous buildings to help it fund its recently settled equal pay claim.
The pensions giant has supplied the investment to City Property Glasgow, a wholly owned subsidiary of the council. A spokesperson for the Phoenix investment team said: “Phoenix’s investment will be used for the sale and leaseback arrangement between Glasgow City Council and City Property Glasgow.”
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