Lismore advise on the acquisition of Duke Street, Glasgow multi-storey car park

Lismore Real Estate Advisors have advised Ediston, on behalf of Clydebuilt II Limited Partnership, on the acquisition of a long let multi-storey car from Phoenix Life Limited c/o abrdn.

The property is situated on Duke Street, Glasgow and is arranged over 9 storeys with 1,136 parking spaces. Let to Glasgow City Council for a further 18 years at a passing rent of £1,465,740 pa, subject to five yearly uncapped RPI rent reviews.

The price of £22.05m reflects a net initial yield of 6.22%.