GLASGOW tycoon David Lockhart is laughing all the way to the bank after pocketing £11million.

He made the killing after deciding to sell his property group Halladale to an Australian firm for £171m.

The multi-million pound pay-off is a bumper dividend for the former family lawyer who launched his property firm from rented premises in Gordon Street in Glasgow 16 years ago.

The workforce of 42 manage assets worth almost £1billion.

Halladale has a comprehensive property portfolio, much of it centred on office accommodation in London and South East England.

The firm also has a fund management division.

Halladale has been bought by Stockland, Australia's largest housing developer.

Mr Lockhart is to become executive chairman.