Rowan House 66-70 Buchanan St 34,468 SF 100% Leased Office Building Glasgow G1 3JE £9,750,000 (£282.87/SF) 6% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prime flagship retail investment opportunity
- Exceptional reversion potential to be captured
- Let on two separate co-terminus leases to Laing the Jeweller (Glasgow) Limited (2A1 D&B Credit Rating)
EXECUTIVE SUMMARY
The subject property comprises a large flagship retail unit providing sales areas at ground and first floors with basement storage. The property benefits from significant frontage onto Buchanan Street. The upper floors can be accessed both internally from the main retail premises and by way of their own exclusive access door along the side elevation which is fully equipped with a passenger lift that serves the entire upper floors. The subjects have been extensively fitted out in the corporate branding of Laings.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
34,468 SF
Building Class
B
Year Built
1850
Price
£9,750,000
Price Per SF
£282.87
Net Initial Yield
6%
NOI
£585,000
Percent Leased
100%
Tenancy
Multiple
Number of Floors
7
Typical Floor Size
3,345 SF
Building FAR
0.87
Lot Size
0.91 AC
AMENITIES
- Controlled Access
- Raised Floor
- Demised WC facilities
- Lift Access
- Perimeter Trunking
- Suspended Ceilings
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CONTACTS
-
Stewart Sheridan -
Graeme Millar -
Sheridan Keane Real Estate Investment
