Ocean Terminal Shopping Centre - Edinburgh
Ocean Terminal, 74 Ocean Drive, Leith, Edinburgh, EH6 6JJ
£18,130,000 | 277,435 sf
Description
- Glasgow is the largest city in Scotland with a population of 635,000, increasing to 1.84 million people within the Greater Glasgow conurbation.
- The city has the biggest and best retail market in the UK outside of London’s West End, accumulating £5 billion in retail spend per annum.
- Buchanan Street is the city’s undoubted prime pitch, experiencing footfall of 49 million people per annum.
- The property offers exceptional connectivity with Glasgow Queen Street Station accessible within a 1-minute walk and Glasgow Central Station within a 5-minute walk.
- The asset comprises a 55,806 sq ft modern mixed-use building behind a striking Category-A Listed façade, arranged over basement, ground and four upper floors.
- The accommodation incorporates two well-configured retail units fronting Buchanan Street, a newly formed Class 3 restaurant unit fronting Nelson Mandela Place, a basement nightclub/events space and modern office accommodation across third to fifth floors.
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Attributes
Asking price
£22,750,000
Total Annual Rent
£1,760,532.00
WAULT to expiries
8.66 years
WAULT to breaks
6.1 years
Building area net
55,806 sf
Number of floors
6
Media
Investment Highlights
- Iconic Retail-Led Mixed-Use Asset on the UK's best performing High Street outside London's West End.
- Buchanan Street has less than 2% vacancy and rents have grown by more than 20% in the last 18 months, providing the opportunity to capture strong reversion.
- Let to a high-quality tenant line-up comprising Urban Outfitters, The North Face, Dishoom, Carlsberg Marston’s and The Scottish Ministers (NHS).
- Total passing rent of £1,760,532 per annum.
- Weighted average unexpired lease term of 8.66 years to expiries and 6.10 years to breaks.
- 56% of the income benefits from annual uncapped CPI uplifts or fixed rental increases, providing guaranteed rental performance.
- Heritable Interest (Scottish equivalent of English freehold).
Offers are invited in excess of £22,570,000 (Twenty-Two Million, Five Hundred and Seventy Thousand Pounds Sterling) subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 7.25% and a projected reversionary yield of 8.43% by April 2031, allowing for standard purchaser’s costs based on LBTT.
Contact brokers
Stock Exchange Court - Glasgow (0 Properties)
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Last updated
28 Nov 2025
