commercial property lambert smith hampton

Our work - 14/12/2018

20-26 Buchanan Street: acquisition of prime retail asset in Glasgow

Securing a prime retail asset

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We were tasked with securing a prime retail asset on Buchanan St Glasgow, which is the UK's 3rd best retail destination behind London’s Oxford and Regent Streets.

Given the growth potential for Buchanan Street, owners have been reluctant to sell and a property had not changed hands on the street for over two years prior to our acquisition.

Our detailed occupational and investment knowledge of the street was of critical importance in providing the requisite advice. We successfully identified a number of suitable properties and after further diligence, engaged with the owner of the property providing prime locations options. It is let on full repairing and insuring (FRI) terms to Nike expiring November 2025, with a tenant only break option in November 2020. After successfully negotiating the terms of the deal, the property was placed under offer and concluded off‑market.