Warning - This property listing has now expired.

Any changes made to the content of this listing WILL NOT BE SAVED. However, you can still change the property status (i.e. available/sold/let etc).

To renew this property or for further assistance please call 01767 313380 or email renewals@novaloca.com.

42-46 Buchanan Street, Glasgow, G1 3JX

4,851 Sq Ft / Retail / Investment

For Sale - £7,500,000.00

Available - Last updated: 08 November 2024

Summary

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

  • Prime Reversionary Retail Investment
  • Let to Hotel Chocolat and L’Occitane
  • Freehold
  • Producing £520,000 per annum
  • Location

    Located in Glasgow's city centre in a 100% prime position on the best section of Buchanan Street, which is bounded by St Vincent Street to the North and Argyle Street to the South.

    Property Quote Price(s)

    DescriptionSale typeGuide pricePrice type
      For Sale Freehold £7,500,000.00 NA

    Email me updates about similar new properties


    Show similar properties

    Contact agents

    Douglas Wood

    Avison Young

    0141 432 0163

    Eilidh MacPherson

    Avison Young

    0131 610 0140

    Scott Mitchell

    Avison Young

    020 3369 0323

    Thank you for your enquiry

    The agent for this property will get back to you as soon as possible.

    Would you like to view similar properties now?

    Many thanks, your enquiry has been sent to the agent

    In response to the boxes you ticked, we'd like to send you emails about new & updated properties based on the following (please amend as required):


    Please note, NovaLoca will only contact you about commercial property & you can unsubscribe at any time. Your information will not be given to third parties without your permission. For more information please refer to our privacy policy.