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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1784
Tenure Type Freehold
Building Area

Property Description

The property is located at the entrance to Argyll Arcade on Argyle Street. Argyll Arcade is regarded as the diamond jewellery centre of the North and is a renowned shopping destination in its own right.  The property itself, benefits to frontage both from the arcade and Argyle Street and is therefore a highly prominent location.


Argyle Street forms part of Glasgow ‘Style Mile’ which is the prime retailing pitch in Glasgow. At the top of the ‘Style Mile’ is Buchanan Galleries Shopping Centre and at the bottom is the St Enoch Centre Shopping Centre, both of which provide further retail and leisure provision, along with generous parking provision for the city centre.


Investment Highlights

  • 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).
Janey Douglas
Janey Douglas
Senior Surveyor
Pauline Stewart
PA / Office Manager

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