Edinburgh and Glasgow retail sites go under hammer
Two of the sites are in Glasgow, with a “prime retail pitch” on Milngavie’s Main Street – let to Marks & Spencer and Ladbrokes – expected to bring in bids of more than £7 million.
Offers of more than £1,375,000 are being sought for a site opposite Hampden stadium on Cathcart road, which counts Greggs and Tesco Express among its tenants, while in Edinburgh’s Gilmerton a retail park let to Iceland and Lidl is seeking bids in excess of £3.3m.
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Hide AdBidding for the properties will go live on LSH’s website on Thursday.
Ewen White, director of capital markets at LSH in Glasgow, said: “Whilst this is one of the first times that an online sales platform has been used in this way, we believe that, due to its transparency, and immediacy, there are a number of organisations who will prefer this method of transaction.
“As the sale has a global reach, it ensures that buyers and sellers are paying the going market rate, and sellers will also get the same high-quality advice and legal certainty that they’ve always enjoyed. These are three excellent investment opportunities which we have selected for this first online bidding process and we expect to attract a lot of interest.”