Giffnock Lidl supermarket put up for sale at nearly £7m

Summarised from 2 outlets · Updated 11 Nov, 12:01 · Archive

A Lidl supermarket in Giffnock, near Glasgow, has been put up for sale for offers over £6.82 million by estate agent Knight Frank. The 25,600 sq ft store is leased to Lidl until 2041, offers a net initial yield of 5.5%, and has 77 parking spaces. The site was previously home to Scotland's only Whole Foods store, which closed in 2017.

Douglas Binnie, capital markets partner at Knight Frank Glasgow, called it a 'rare opportunity to acquire a prime supermarket investment in one of Glasgow's most affluent suburbs'. He noted the store offers 'secure, long-term income backed by a strong covenant from one of the UK's best-performing grocery brands', and said the Lidl in nearby Finnieston traded on a yield of just 5 per cent earlier in the year.

The sale reflects wider activity in Scotland's retail property market. The Bridgewater Shopping Centre in Erskine was sold for around £21 million earlier this year, whilst Eastgate Shopping Centre in Inverness and Union Square in Aberdeen are currently being marketed. Binnie added that the Giffnock site has 'potential for residential use in the future, given Giffnock's reputation as a highly desirable place to live just outside Glasgow'.

How it is being reported

• 'Rare opportunity' to buy Lidl store in affluent area near Glasgow for £7millionThe prime standalone supermarket, with 77 parking spaces, is leased to Lidl until 2041.Glasgow Live · 11 Nov, 11:49
• Popular supermarket in Giffnock up for sale at nearly £7 millionGiffnock Lidl store near Glasgow put up for sale at offers over £6.82m, with a lease until 2041, 77 parking spaces and residential potential.The Herald · 11 Nov, 11:33

In this story: Giffnock · Glasgow · Knight Frank · Lidl · Whole Foods · Scotland

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