Clutons Daniel Smith - Retail - Glasgow, Kilmarnock Road

Date: 10 Aug 1999

Acting on behalf of Sydney & London Properties Ltd, Cluttons Daniel Smith has acquired the freehold interest in 110-112 Kilmarnock Road, Shawlands, Glasgow from Castlemere Properties.

The investment, bought for £940,000, comprises a retail unit let to Abbey National Plc on a lease expiring in December 2018, producing an annual rent of £79,000. The unit provides a ground floor sales area of 169 sq m (1,820 sq ft).

The purchase of £940,000 reflects a net initial yield in the region of 8 per cent.

Conrad Ritblat represented Castlemere Properties on behalf of Lincoln Assurance Ltd.

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