The UK Commercial Property Trust has sold a Glasgow retail block to Cordea Savills European Retail Fund for £10.5m.
The UKCPT has sold 2-8 Buchanan Street in line with a strategy to sell smaller, lower-yielding properties and to reduce its exposure to the high street retail sector.
The sale also crystallises a strong return on the investment, which achieved an average return of 7.7% pa since its acquisition by UKCPT in July 2010.
Winton Faith advised the vendor; Savills acted for the buyer.
nick.whitten@estatesgazette.com
