The long leasehold interest in the Asda, Clyde Shopping Centre, Clydebank. The property has an agreed area of 67,558 sq ft and is let with just over 10 years unexpired at a rent passing of £17.00 per sq ft, which is geared to 71.538% of ERV. At lease expiry, the rent reverts to full open market value and under Scottish law, tenant’s improvements can be rentalised, creating a large reversion in 2023.
Helical Bar sold the property to Aviva Investors, ahead of asking at 5.15% NIY.
Wilkinson Williams advised Helical Bar and Aviva Investors were represented by Strutt & Parker.
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