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Long let retail park

Glasgow, United Kingdom

82%

£16.200.000

Retail

#34378

Core+

28 Oct 2024

Property Details

Broker

Sold

59,385 sq.ft.

5,517 m²

GIA

272.80 £/sq.ft.

2,936 £/m²

7.86 %

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

The property comprises a parade of four retail warehouse units, set within a tarmac and part bricked car park. The property has a service yard to the rear of the building, with separate access. 6.2 acre site. Low site coverage of 23.8%. Total GIA of 59,385 sq ft. Large catchment of 750,000 within a 20 minute drive time. Dominant retail hub approximately 10 miles south east of Glasgow. Rebased rents with reversion potential and opportunity for growth. Attractive retailer lineup of The Range, Currys, Halfords and Pets at Home offering income from strong tenant credit. Total passing rent of £1,359,506 per annum, reflecting an average rent of £22.89 psf. Attractive WAULT of 9.3 years to expiry and 8.7 years to breaks. 225 car parking spaces (1:249 sq ft ratio).