Burford has acquired a retail and office complex in Glasgow’s Sauchiehall Street for £15.9m. The 16,629 sq m (179,000 sq ft) Savoy Centre produces annual gross rents of £1.2m against estimated current rental values of about £1.5m. This suggests a yield of about 9%.
Sauchiehall Street is expected to benefit from the opening of the £150m Buchanan Galleries shopping centre in 1999. It is being developed by Slough Estates and AMP Asset Management.
- Financial Times 15/10/96 page 22
- The Times 15/10/96 page 33
- The Independent 15/10/96 page 22 (The Investment Column)
