MapOffers in excess of
£7,500,000 | 4,851 sq ftRetail property (high street) for sale
Glasgow G1
Retail property (high street)
4,851 sq ft / 451 sq m
Features and description
- Tenure: Freehold
- Prime Reversionary Retail Investment
- Let to Hotel Chocolat and L’Occitane
- Freehold
- Producing £520,000 per annum
Description
Let to Hotel Chocolat and L’Occitane, two internationally recognised luxury brands.
Rare opportunity to acquire two 100% prime retail units on the UK’s strongest retail street
outside of London’s West End.
2.3m Catchment - Glasgow is the largest city in Scotland and benefits from an extensive
catchment population of 2.3 million people.
Biggest and best retail market - The city has the biggest and best retail market in the UK
outside of London’s West End, and Buchanan Street is the undoubted prime pitch.
Zero vacancy - Buchanan Street has zero vacancy and rents have rebounded more than 20% in the last 18 months, with Zone A rates again breaking through £300 per sq ft.
Two internationally recognised luxury brands - Let to Hotel Chocolat and L’Occitane, two
internationally recognised luxury brands, producing £520,000 p.a.
Opportunity to secure significant reversion - The L’Occitane lease benefits from a rent review on 13th October 2024, with the passing rent reflecting a Zone A rate of only £222 per sq ft, there is an opportunity to secure significant reversion.
Heritable Tile – Heritable Title (Scottish equivalent of English Freehold).
Offers are sought in excess of £7,500,000 exclusive of VAT for our client’s Heritable Interest.
A purchase at this level would reflect the following yield profile:
• Net Initial Yield of 6.50%,
• Reversionary Yield of 7.65%
• Equivalent Yield of 7.63%
Yields are calculated based upon purchaser’s costs of 6.65% and our opinion of ERV at £315 per sq ft Zone A.
Location
Located in Glasgow's city centre in a 100% prime position on the best section of Buchanan Street, which is bounded by St Vincent Street to the North and Argyle Street to the South.
Specifications
Two well configured retail units.
Buchanan Street has zero vacancy
Let to Hotel Chocolat and L’Occitane, two internationally recognised luxury brands.
Rare opportunity to acquire two 100% prime retail units on the UK’s strongest retail street
outside of London’s West End.
2.3m Catchment - Glasgow is the largest city in Scotland and benefits from an extensive
catchment population of 2.3 million people.
Biggest and best retail market - The city has the biggest and best retail market in the UK
outside of London’s West End, and Buchanan Street is the undoubted prime pitch.
Zero vacancy - Buchanan Street has zero vacancy and rents have rebounded more than 20% in the last 18 months, with Zone A rates again breaking through £300 per sq ft.
Two internationally recognised luxury brands - Let to Hotel Chocolat and L’Occitane, two
internationally recognised luxury brands, producing £520,000 p.a.
Opportunity to secure significant reversion - The L’Occitane lease benefits from a rent review on 13th October 2024, with the passing rent reflecting a Zone A rate of only £222 per sq ft, there is an opportunity to secure significant reversion.
Heritable Tile – Heritable Title (Scottish equivalent of English Freehold).
Offers are sought in excess of £7,500,000 exclusive of VAT for our client’s Heritable Interest.
A purchase at this level would reflect the following yield profile:
• Net Initial Yield of 6.50%,
• Reversionary Yield of 7.65%
• Equivalent Yield of 7.63%
Yields are calculated based upon purchaser’s costs of 6.65% and our opinion of ERV at £315 per sq ft Zone A.
Location
Located in Glasgow's city centre in a 100% prime position on the best section of Buchanan Street, which is bounded by St Vincent Street to the North and Argyle Street to the South.
Specifications
Two well configured retail units.
Buchanan Street has zero vacancy
Property information from this agent
About this agent
Avison Young creates economic, social and environmental value as a global real estate advisor, powered by people. At Avison Young, we believe in creating positive impact wherever we go. There is a vital role for commercial real estate to create healthy, productive workplaces for employees, cities that are centres of prosperity for its citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. Our nimble, agile team has global insight, local market expertise and access to some of the smartest technology in the commercial real estate industry – all at the ready to work on creating your competitive advantage. As a private company, you will collaborate with an empowered partner who is invested in your success as much as you are.