Henderson Global Investors, on behalf of its RZVK-Immo-Fonds, for its German joint venture Warburg - Henderson, has acquired a 4,050-m² mixed-use site in Glasgow. The site is located at 61-79 Buchanan Street, Glasgow, and was bought from Hazelhaw Properties Ltd for £36.4 million (approx. 41.6 mln.), which represents a net initial yield of 5.4%.
The RZVK-Immo-Fonds is a pan-European fund which has already invested in 14 properties. All properties are located in Germany except for one other asset in Scotland - 1 Exchange Crescent in Edinburgh.
Warburg - Henderson is actively looking for further similar retail opportunities in major UK retail centers, as well as securely let modern office properties in central London, major centers in France, Germany and Italy.
Andrew Creighton, Director at Henderson Global Investors, said: "This acquisition is part of our strategy of acquiring properties with good fundamentals, which provide the fund with exposure to reversionary rents and active asset management opportunities. We foresee strong demand for well configured units on Buchanan Street from international retailers and are confident that this asset will help create value for our investors".
CBRE acted for Henderson. Cushman and Wakefield acted for Hazelhaw Properties Ltd.
Source: Henderson Global Investors