Glasgow retail asset snapped up
XPROP has advised an undisclosed property company on the acquisition of a Glasgow retail park.
Spanning a gross internal area of 20,733 sq ft, Birkenshaw Retail Park occupies the dominant trading position within the wider Birkenshaw Trading Estate.
It is located to the east of Glasgow, near the junction where the M73 and the M74 meet.
The retail park is fully let, with a tenant roster including ScS, Natuzzi, and Sofa.com. It also benefits from an adjacent car park.
The purchase reflects a net initial yield of 10%, and the asset benefits from future asset management initiatives with the potential to drive further returns.
The wider development includes a number of retail warehouses, with nearby retailers including Currys, Bensons for Beds, B&M, Dunelm, Carpetright, Oak Furnitureland, and Tapi Carpets.