Glasgow retail park brought to market with £9.1m price tag
Xprop has brought a retail park on the outskirts of Glasgow has to market with an asking price of £9.12m.
Located on a 4.7-acre site, Atlas Retail Park is a modern purpose-built scheme constructed in 2022 with a gross internal area of 53,343 sq ft. The asset is predominantly let to The Range, which operates a 50,251 sq ft unit, with one smaller, 3,092 sq ft unit let to Flooring Superstore.
The retail park generates a passing rent of £632,500, reflecting an average rent of £11.86 per sq ft. Of this income, 87% is secured to The Range for another 16.7 years, with five-yearly RPI indexations.
The property also benefits from a surface car park located to the front with 300 spaces and six newly-installed EV charging stations.
Atlas Retail Park is located off the A82, adjacent to Great Western Retail Park, the area’s predominant retail asset which is anchored by Sainsbury’s and B&Q.
Xprop said the price tag of £9.12m reflects a net initial yield of 6.5%, rising to approximately 7.4% in May 2027.