Leisure investment vehicle EPF Group has brought its 13,800 sq ft Darnley retail park in Glasgow to the market for £5.5m – a 6.5% yield.
The scheme is let to tenants including Costa Coffee, McDonald’s, KFC, Carphone Warehouse and Domino’s, producing a £377,500 pa passing rent. Up to 87% of the total income is secured against national covenants.
The scheme sits adjacent to land earmarked for a mixed-use development, including 300 new homes.
EPF purchased Darnley retail park in 2010 with a strategy to boost annual rental income by £100,000 through a number of asset management initiatives.
CBRE and Coffer Corporate Leisure are advising.
annabel.dixon@estatesgazette.com
