A Lidl store in Giffnock, Glasgow, has been put on the market for offers over £6.82m, reflecting a net initial yield of 5.5%.
The 25,600 sq ft features 77 parking spaces and is leased to Lidl until 2041. The site is also underpinned by significant residual value through its potential repurposing for residential use.
It was previously home to Scotland’s only Whole Foods grocery chain, until 2017.
Douglas Binnie, capital markets partner at Knight Frank Glasgow, which has been appointed to market the opportunity, said: “Giffnock’s Lidl is rare opportunity to acquire a prime supermarket investment in one of Glasgow’s most affluent suburbs. It offers secure, long-term income backed by a strong covenant from one of the UK’s best-performing grocery brands, with the Lidl in Finnieston trading on a yield of just 5% earlier in the year.
“The store performs well with a strong catchment area, and the location is well known as the former home of the only Whole Foods in Scotland. The site also has potential for residential use in the future, given Giffnock’s reputation as a highly desirable place to live just outside Glasgow.”
