‘Flagship’ TK Maxx building in heart of Scottish city centre on sale for £15 million

Clothing retail giant TK Maxx’s home on one of Scotland’s busiest shopping thoroughfares has been put up for sale.

Located at 36-48 Argyle Street in Glasgow the fully let property, described as a “flagship retail and office investment opportunity”, comprises more than 82,000 square feet across basement, ground and three upper floors. It is anchored by TK Maxx.

Property advisor CBRE, which has been appointed by HIH Real Estate to bring the building to market, is looking for offers in excess of £15 million.

The building at 36-48 Argyle Street in Glasgow is anchored by TK Maxx.

CBRE noted: “Prominently positioned on the pedestrianised section of Argyle Street, directly opposite the St Enoch Centre, the asset represents one of the best located, large format retail units in one of the UK’s busiest retail destinations.”

It said TK Maxx had committed to a £1.2m refurbishment programme, reaffirming its long-term presence. Health food chain Holland & Barrett has committed to lease a second ground floor unit on a ten-year term from September 2025, contributing further to the building’s “strong tenant profile and future potential”, property experts added.

Andrew Shiells, senior director at CBRE Scotland, said: “This is a rare opportunity to acquire one of Glasgow’s most prominent high street retail assets. With excellent visibility, strong tenant covenants, and clear value underpinned by ongoing investment from occupiers, it represents a robust, long-term urban retail investment in a location that continues to evolve and strengthen.”

The firm added: “The surrounding area is undergoing significant regeneration as part of Glasgow City Council’s ‘Avenues’ project, delivering improved public realm, active travel infrastructure and enhanced connectivity throughout the city core.

“Coupled with strong occupational demand and recent lettings to major names including Uniqlo and Next, Argyle Street continues to consolidate its position as a retail destination of national significance.”