Cranston House, Argyle Street, Glasgow

Argyle Street, Glasgow, G2 8BH, UK

Description

Prime retail parade in the premier retailing destination outside of London. The asset comprises four retail units, with two floors of offices in the upper parts.

The retail accommodation extends to 17,217 sq ft with two larger units (Clarks – 5,638 sq ft & Schuh – 9,646 sq ft) and two smaller units (Mor Bakehouse – 728 sq ft & Vodafone – 1,205 sq ft).

The office accommodation comprises 8,334 sq ft across 3rd & 4th floors.

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Attributes

Building area net

25,551 sf

Occupancy

100%

Units

WAULT

4.4 years

Media

Investment highlights

Glasgow is Scotland’s largest city and is widely acknowledged as being one of the UK’s best retail centres outside of London.
The property occupies a prime position on Argyle Street, which is one of Glasgow’s premier shopping destinations.
Glasgow ranks as one of the strongest shopping locations outside London with 5.4 million sq ft of retail space, generating over £4.2 billion in annual spend whilst contributing £763 million in GVA and supporting 35,000 jobs.
The property is situated on Argyle Street within 50m of Buchanan Street and directly opposite St Enoch Shopping Centre and the newly opened Uniqlo store.
Comprises four retail units with two floors of office accommodation in the upper parts.
Fully let to national covenants Schuh, Vodafone, Clarks and ITX UK.
Future asset management opportunities to re-purpose the upper parts.
Total passing rent of £625,546 per annum.
WAULT of 4.4 years to expiry and 2.7 years to break with 93% of the income secured to retail tenants.
Heritable interest.