£3.4 million Argyle Street investment deal
25 January 2010
On behalf of a private investor, Ryden has acquired the Heritable Interest in a well secured retail / office investment at The Bridge, 348-382 Argyle Street, Glasgow for £3.4 million. The deal represents a net initial yield of 7.2%.
The 15,869 sq ft property is let to Tesco Stores Ltd and Trillium (Prime) Property GP Ltd t/a Job Centre Plus on FRI leases expiring in 2022 and 2018 respectively. Tesco is paying a rent of £70,000 per annum with Trillium paying a rent of £188,535 per annum.
DTZ acted for the seller, a private investor.