Buccleuch Property continues to strengthen its commercial property portfolio with the purchase of Clifford Court, Ibrox Business Park in Glasgow for £875,000, reflecting a net initial yield of circa 7.6%.
Situated within the well-established Ibrox Business Park, south west of Glasgow city centre, the industrial accommodation situated in Ibrox Business Park and comprise The property comprises a terrace of four modern industrial units, providing around 12,295 sq. ft.
Unit sizes range from 1,950 sq ft up to 4,200 sq ft. The estate is let on short to medium term income with current occupiers including WGM Engineering and SSK Conferences & Events, generating a combined annual rent of over £70,000.
Philip Eves, Investment Director at Buccleuch Property, said: “We are delighted to complete on this purchase which complements our existing ownership of Ibrox Business Park and we continue to seek similar investment opportunities.”
Buccleuch Property was advised by Derek Archer, Ryden on the purchase. Shepherd Chartered Surveyors acted on behalf of the vendors, Jobs & Business Glasgow, the Glasgow City Council Arm’s Length External Organisation delivering economic development activity on behalf of the city.
For more information on Buccleuch Property please visit www.buccleuchproperty.co.uk.