retail high street
Ref 16186

102 Argyle Street

G2 8BH Glasgow

To buyPlease contact us
Size2,262 ft² / 210 m²
Initial yield6%

Description

Prime High Street Retail Investment Opportunity

Investment Summary

  • Prime retail investment located in Glasgow, the top retailing location in Scotland;
  • Prominent retail unit located on Glasgow’s ‘Style Mile’ at the entrance to Argyll Arcade, benefitting from dual frontage to Argyle Street and within the Arcade itself;
  • Let to Hutchison 3G UK Ltd (D&B Rating 5A1) from 17th December 2018 until 16th December 2030 at a current passing rent of £130,000 per annum which equates to a Zone A rate of £123.93 per sq ft;
  • Five yearly, upward only, open market rent reviews. The next review due on 17th December 2023;
  • Heritable tenure (Scottish equivalent of English Freehold).

Offers in excess of £2,050,000 (Two Million and Fifty Thousand Pounds Sterling) are sought for our client’s heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 5.97% assuming purchaser’s costs at 6.24%.

Energy rating

Energy rating D

Location and Transport