Quadrant Estates and KKR are selling the Great Western retail park in Glasgow for £54.5m – a 6.5% yield.
The pair has instructed JLL and Montagu Evans to market the 193,628 sq ft park, which produces an annual rental income of £3m and has a weighted unexpired lease term of 11 years.
Tenants include B&Q, Currys and Wren. Three new F&B units developed by Quadrant and KKR have been let to Starbucks, KFC and McDonald’s.
The retail park was originally purchased as part of a trio of assets in 2013. The others included Templars Square in Oxford, which was sold to Primerica in January 2015, and a B&Q in Sunderland which is being sold.
According to EG data, around £824m has been invested into the UK retail sector so far in 2017, of which £263m has been invested in retail parks.
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