The Townhouse – Buchanan Street – Glasgow

Description

An attractive Grade A Listed building located in a prime location on Buchanan Street in Glasgow. Buchanan Street is the #2 retail destination in the UK, and benefits from footfall of 91m people per year. The entire property is let to the Thai Leisure Group, a restaurant operator trading as Chao Phraya until 2032. Acquired in September 2013.

Business Plan

A long term hold of a prime asset. Held on a long lease with inflation linked reviews, the Tenant recently completed an extensive refurbishment of the property.  However, further to an unsolicited offer in April 2016 the Property was sold.

Exited Investment

Realised Returns

Ungeared IRR: 23.2%
Equity Multiple: 1.52x
Hold Period: 2 years.

Acquired on behalf of a:

Private client