13th November 2018

94 – 146 Byres Road, Glasgow

94 – 146 Byres Road comprises an entire parade with 15 retail and leisure units on the ground floor of a traditional tenement block. There are currently two vacant units of which one is under offer to a Class 1 retailer.

There will be further asset management opportunities within the block as existing leases approach expiry.


On behalf of the Clydebuilt Limited Partnership, Ediston acquired the retail parade at 94 -144 Byres Road in April 2015 for £7.2m, reflecting a net initial yield of 7.54%.  In June 2015, the remaining unit within the parade, 146 Byres Road, was acquired for £1.0m, reflecting a net initial yield of 7.05%.  The total price paid for 94-146 Byres Road was £8.2m, reflecting a net initial yield of 7.47%, after deducting LBTT.


Two assignments have been agreed to considerably stronger covenants, which adds value to the parade.