Buccleuch acquires Uddingston warehouse
Buccleuch Property has acquired a prime retail warehouse investment in Uddingston, Glasgow.
West Retail Park, within the well-established Birkenshaw Trading Estate, is the company’s second investment into the retail warehouse market this year following the purchase of Colchester Retail Park in March.
Buccleuch Property was attracted to the Park because of the secure income stream and good potential for rental growth.
Phil Eves of Buccleuch Property said: “We are constantly reviewing all sectors of the UK property market to seek out what we believe will provide good quality, sustainable income with the potential for growth.
“West Retail Park is well located and popular with consumers. The investment provides a healthy yield in a resilient sector with the opportunity for rental growth.”
The agreed sale price of £6,450,000 reflects a stabilised net income yield of 7.4%
Stuart Orr of Savills acted for Buccleuch and Lee Randle of Mason Partners advised the vendor, a private trust.