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Glasgow – High Yielding Shopping Centre Investment
The Braes Shopping Centre, Castlemilk Drive, Glasgow, G45 9AA
- Property Type:
- Commercial
- Sub Type:
- Retail
- Tenure:
- Freehold
Income
Net Operating Income - £634,815 pa
Description
- High Yielding Convenience led Shopping Centre in the heart of the Glasgow suburb of Castlemilk.
- Glasgow is the economic, cultural, sporting and academic heart of Scotland with 40% of Scotland’s population living within the wider Glasgow conurbation.
- Tenants include The Secretary of State, Greggs plc, Sportswift Ltd, Iceland Frozen Foods, Co-operative Foodstores Ltd, Ladbrokes Betting & Gaming Ltd and William Hill Organization Ltd.
- Multi-let property with 56 well configured retail units anchored by a large format B&M Bargains.
- Total Contracted Rent of £828,551 pa.
- Net Operating Income of £634,815 pa.
- Freehold (Heritable) Interest.
- Various asset management opportunities including increasing income through letting vacant units, converting the upper parts or completely redeveloping the site.
- Offers sought in excess of £3,250,000 subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 23.95% and a triple net yield of 18.35% after allowing for purchasers costs of 6.14%.