DTZ Investors sells House of Fraser, Glasgow
DTZ Investors has exchanged on the sale of House of Fraser, Glasgow to Sports Direct for £95m reflecting an initial yield of 4.2%. The property encompasses approximately 350,000 sq ft and is occupied entirely by House of Fraser which was recently purchased out of administration by Sports Direct. The sale represents a good outcome for the employees of the store, the Fund’s beneficiaries, Sports Direct’s shareholders and for retailing in Glasgow. Completion is due in January 2020.
DTZ Investors were represented by Savills.