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The Range Great Western Rd 53,343 sq ft 100% Let Retail Property Glasgow G15 6RX £9,120,000 (£170.97/sq ft) 6.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Car parking
- Great transport links.
- Destination property.
EXECUTIVE SUMMARY
Xprop has brought a retail park on the outskirts of Glasgow has to market with an asking price of £9.12m.
Located on a 4.7-acre site, Atlas Retail Park is a modern purpose-built scheme constructed in 2022 with a gross internal area of 53,343 sq ft. The asset is predominantly let to The Range, which operates a 50,251 sq ft unit, with one smaller, 3,092 sq ft unit let to Flooring Superstore.
The retail park generates a passing rent of £632,500, reflecting an average rent of £11.86 per sq ft. Of this income, 87% is secured to The Range for another 16.7 years, with five-yearly RPI indexations.
Located on a 4.7-acre site, Atlas Retail Park is a modern purpose-built scheme constructed in 2022 with a gross internal area of 53,343 sq ft. The asset is predominantly let to The Range, which operates a 50,251 sq ft unit, with one smaller, 3,092 sq ft unit let to Flooring Superstore.
The retail park generates a passing rent of £632,500, reflecting an average rent of £11.86 per sq ft. Of this income, 87% is secured to The Range for another 16.7 years, with five-yearly RPI indexations.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Standalone
Property Size
53,343 sq ft
Costar Property Class
B
Year Built
2022
Price
£9,120,000
Price per sq ft
£170.97
Yield
6.50%
NOI
£592,800
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.26
Total Plot Size
4.70 ac
Parking
71 Spaces (1.26 Spaces per 1,000 sq ft Leased)
Frontage
587 ft on Golf Drive
AMENITIES
- 24 Hour Access
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NEARBY MAJOR RETAILERS
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The Range | Great Western Rd
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