200 Renfield Street, Glasgow, G2 3QB

- Opportunity to purchase a prime HQ office investment, located in Glasgow’s CBD with an unexpired term of 16 years, and term certain to a break option of 6 years.- Excellent access transport links, public parking, direct motorway access and nearby city centre amenities.- Heritable Interest (Scottish equivalent of English Freehold)- The property is let in its entirety to the 5A1 covenant of Newsquest (Herald & Times) Limited- Full Repairing and Insuring lease expiring on 23 May 2030 subject to a tenant break option as at 24 May 2020 - Annual Rental Income of £1,170,000 - Low rental rate equating to £18.60 per sqft, with a rent review in 2015, which is well timed to take advantage of the ongoing improvement in occupier markets.- Flexible modern office building of 53,350 sqft arranged over 3 floors, with 89 car spaces, providing a highly desirable ratio of 1:600 sqft.- Asset management opportunity to remove the 2020 break option which would provide 10 years additional term certain on the lease.- Strategic nearby occupiers include Glasgow Caledonian University, Tesco Bank, British Transport Police and Network Rail.- Strong location and underdeveloped site provides potential for future development of higher density offices, student housing, hotel, leisure or mixed use (subject to planning).Offers are sought in excess of £13,800,000 (Thirteen Million, Eight Hundred Thousand Pounds Sterling) exclusive of VAT, for our clients heritable interest in the property,.This reflects an attractive net initial yield of 8.01%, allowing for purchasers costs of 5.8%, and a capital rate of £259 per sqft.

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