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Irish investor buys Glasgow's Forge

Published:  20 November, 2006

An Irish investor, advised by BTWShiells, has bought the Forge shopping centre in Glasgow for just under £138m representing an initial yield of 4.85 per cent and an equivalent yield of 6 per cent.

The Forge comprises 450,000 sq ft of retail accommodation anchored by one of Asda's largest stores in Scotland together with a Dunnes Stores and a 7-screen Cineworld cinema. Primark has recently opened a 20,285 sq ft store and key tenants include H&M Hennes, River Island, Bon Marche, New Look and WH Smith.

The scheme was sold by The Grosvenor Shopping Centre Fund represented by CBRE.