Allan House in Glasgow Sold for £6.33m
16 July 2010
On behalf of The Royal London Property Fund, Ryden has sold the Heritable Interest in Allan House, 21-25 Bothwell Street, Glasgow.
Threadneedle Property Investments purchased the 31,462 sq ft landmark multi-let investment for £6.33m, reflecting a net yield of 7.16%.
The property occupies a prominent corner position on Bothwell Street, one of Glasgow’s premier addresses, and consists of restaurant accommodation on the ground floor and basement and open plan office space across 1st – 4th floors.
The property has a total passing rent of £479,273 per annum and is let to tenants including Scott-Moncrieff and Living Ventures Restaurants Limited (guaranteed by the Restaurant Group Plc).
NB Real Estate represented Threadneedle.
