69-71 Queen Street_Property for Sale
69-71 Queen Street_Property for Sale
69-71 Queen Street, Glasgow, G1 3BZ, UK

69-71 Queen Street

Asset Description

  • 69-71 Queen Street is situated on a busy throughfare in Glasgow's prime retail core.
  • Buchanan Street and and Glasgow's two principal Rail Stations are located within short walking distance.
  • The property comprises a well configured category B-listed retail unit arranged over ground and basement levels.
  • The ground floor provides a retail trading area, with storage space, staff toilets and a break room accessible on the basement level.
  • The property has been measured in accordance with the RICS Code of Measuring Practice (6th addition), extending to a Net Internal Area (NIA) of approximately 3,250 sq ft.
  • The unit benefits from an EPC rating of A15 (a copy of the certificate is available upon request).
...

Attributes

Asking price
CN¥7,585,000
Cap rate
7.99%
Occupancy
100%
Remaining lease term
5.5 years
Building area net
302 m²

Media

Investment Highlights

  • We are instructed to seek offers in excess of £825,000 (Eight Hundred and Twenty-Five Thousand Pounds Sterling), subject to contract and exclusive of VAT, for our client's Heritable Interest in the property (Scottish equivalent of English Freehold).
  • A purchase at this level reflects an attractive Net Initial Yield of 7.99%, assuming purchaser’s costs of 5.41%.
  • The property is let on fully repairing and insuring terms to Cancer Research UK (04325234) from 21 October 2019 to 20 October 2029.
  • The current passing rent is £69,500 p.a.
  • There is an upwards only rent review on 20 October 2024 to Open Market Rental Value.
  • A tenant only break option on 20 October 2024 has not been exercised, demonstrating Cancer Research's commitment to the unit.
  • Cancer Research offer exceptional covenant, with a Tangible Net Worth of £512.6m and a Dun & Bradstreet rating of 5A1.
69-71 Queen Street 4_Property for Sale

Contact brokers

69-71 Queen Street (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
29 May 2024