Sainsbury's and Pets at Home, 10, Allerdyce Road, Glasgow, G15 6RX

Summary

Prime Supermarket and Retail Warehouse Investment Opportunity

Investment Summary

• Prime supermarket and retail warehouse opportunity located in Glasgow;
• Glasgow is the 3rd largest city in the UK and is No.2 in the UK CACI Retail Rankings;
• Glasgow has a primary catchment population of 1.84 million and an extended catchment of 2.3 million;
• Strategically situated in Great Western Retail Park, located just off the A82 and in close proximity to Glasgow’s west end and affluent suburbs of Bearsden and Milngavie;
• Let to Sainsbury’s Supermarkets Limited (D&B 5A1 Rating) until 29/09/2031 and Pets at Home (D&B 5A1 Rating) until 27/10/2026;
• Total current income of £1,540,000 per annum which equates to £20.28 per sq ft and £23.99 per sq ft relative to the Sainsbury’s and Pets at Home respectively;
• Supermarket premises extending to 64,110 sq ft with associated Petrol Filling Station extending to 1,295 sq ft and retail warehouse premises extending to 10,004 sq ft;
• Heritable Interest (Scottish equivalent of English Freehold)

We are seeking offers in excess of £23,500,000 (TWENTY THREE MILLION FIVE HUNDRED THOUSAND POUNDS STERLING) for our client’s heritable interest subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 6.17%, after purchaser’s costs of 6.26%.