Waitrose site in Newton Mearns is sold to investor

The Waitrose supermarket site in Newton Mearns has been sold.

The site of the supermarket has been sold for £12.1 million.

Property consultancy Savills, acting on behalf of Northern Bank Pension Trust, which is managed by Danske Bank, has sold the Waitrose unit for £12.1m, to an unnamed UK investor.

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The unit was constructed around nine years ago and formed the catalyst for the wider development known as Greenlaw Village.

It is let to Waitrose for a further 12 years.

Stuart Orr, director in the investment team at Savills Glasgow, said: “The Waitrose in Newton Mearns is a compelling investment given the demographics of the catchment which is set to significantly grow with a further 3000 family homes being built within five minutes.”