42-46 Buchanan Street, Glasgow, G1 3JX

Summary

UNDER OFFER

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.

Key Points

Location