DTZ Investors acquire 50-74 Sauchiehall Street, Glasgow
DTZ Investors has completed the acquisition of the freehold interest of 50-74 Sauchiehall Street in Glasgow for £15.3m, reflecting a 6.1% net initial yield.
The asset comprises four retail units that were refurbished in 2012 and total 26,481 sq ft. The property is multi-let to Bank of Scotland, Dr. Martens and Poundland with a WAULT to expiry of 7.4 years. The acquisition provides exposure to a diversified income stream in major UK City in a the micro location that benefits from very high levels of footfall and sustainable retailer demand.
DTZ Investors were advised by Montague Evans.