42-46 Buchanan Street, Glasgow
4,851 sq ft
Description
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.
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.
BUILDING HIGHLIGHTS
Prime Reversionary Retail Investment
Let to Hotel Chocolat and L’Occitane
Freehold
Producing £520,000 per annum
