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Retail investment with development potential

Glasgow, United KingdomUnlock address

83%

£8.250.000

Retail

#14124

Core+, Value-Add

3 Feb 2024

Property Details

Broker

For sale

20,938 sq.ft.

1,945 m²

Leasable area

394 £/sq.ft.

4,241 £/m²

10.00 %

8

Other

X

Fees

0.00 %

0.50 %

0.00 %

0.50 %

Investment Overview

The property occupies an excellent position at the junction of Argyle Street & Queen Street, which is one of Glasgow’s premier shopping thoroughfares. Shopper footfall on Argyle Street is the highest for any location in the city centre. The property comprises eight retail units in an unbroken parade extending to over 20,000 sq ft. Four tenants have recommitted to the location with new leases from January 2021. Redevelopment opportunity for alternative uses over 11/17 Queen Street. Current rental income of £881,501 per annum. Wault to expiry 5.9 years. Heritable investment (Scotland’s equivalent to English Freehold).