The Evening Times reported last week that the Broomhill Shopping Cente should soon be seeing a supermarket re-opeing on the site, which will be a boost to local residents and traders as it has been vacant since the start of the year.
The paper reports:
"Spar ran a store in Broomhill Shopping Centre for thirty years before Tesco took over the lease in February. But the shop still lies empty and in September the Evening Times revealed that the retail giant had decided not to trade.
"At the time Tesco came in for sharp criticism from local pensioners and the area’s MSP who urged supermarket bosses to open a shop or stop blocking competitors. Now Tesco has agreed to hand over the lease to Co-operative after the Evening Times got in touch and the supermarket could reopen in the New Year if paperwork is rubber stamped."
Broomhill is an area I like a lot. It has always been a sound area to invest and I would recommend it as an area for longterm income and capital growth.
Located north of the river, next to Partick and Hyndland, it is popular with young professionals and young families. It is well served by schools, parks and shops with the Broomhill Shopping Centre and the lively Crow Road. Housing is mainly in the traditional sandstone tenement flats.
In terms of property, there is strong rental demand - according to Lettingstats Summer report, properties only require an average of 9 days to find a new tenant. You can buy a 1 bed flat for around £120,000 and expect to get around £615 a month and a 2 bed flat for around £170,000 and expect to get around £835 a month, an average rental yield of 6%.
If you want to discuss the property market in Broomhill, at Douglas Dickson we are always happy to give you our unbiased opinion on which property to buy (or not as the case may be). Please feel free to contact me on 0141 221 1827 or via email: firstname.lastname@example.org.