Descripción

Glasgow is Scotland's largest city, with a population of approximately 650,000 people, increasing to 1.85 million people across the Greater Glasgow conurbation.
The city generates in excess of £60 billion GVA and serves as Scotland's principal economic, educational and retail centre.
The property occupies a prominent position in Gallowgate, less than 1 mile east of Glasgow City Centre, benefitting from excellent connectivity to the M8, M74 and the city's principal arterial road network.
The asset sits within a densely populated urban catchment with over 220,000 residents across 110,000 households within a 10-minute drive, supporting annual convenience goods expenditure of approximately £736 million.
The surrounding area continues to benefit from significant public and private sector investment, with Gallowgate identified as one of Glasgow's Transformational Regeneration Areas, driving ongoing residential, commercial and public realm improvements.
The property benefits from a highly constrained competitive environment and is recognised as Glasgow's most centrally located large-format foodstore, with limited direct supermarket competition serving the immediate catchment.
Constructed in 2012, the property comprises a modern, standalone Morrisons foodstore extending to 50,116 sq ft on a substantial 4.6-acre site, with 269 dedicated car parking spaces and a secure servicing yard.
The store provides Morrisons' full retail offer, including Nutmeg clothing, café, butchers, fishmonger, click & collect facilities and Amazon lockers, further underpinning its role as a key convenience and destination retail asset.

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Atributos

Superficie neta construida

4656 m²

Plazas de aparcamiento

269

WAULT

15.3 años

Precio de venta

10.728.000 €

NOI

859.000 €

Tasa de capitalización

7,5 %

Media

Aspectos destacados de la inversión

Long-income foodstore investment offering in excess of 15 years term certain.
Fully let to WM Morrison Supermarkets Limited until 22nd December 2041 with no breaks.
Morrisons recently rebased and extended their lease, demonstrating a strong commitment to the location.
CPI-linked rent reviews in 2031 and 2036, subject to a 1% collar and 3% cap, compounded annually.
Strong tenant covenant with Creditsafe rating of 86A (Very Low Risk) and reported shareholders' funds of £5.5 billion.
Heritable Interest (Scottish equivalent of English freehold).