Waitrose site in Newton Mearns is sold to investor

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.

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.”