A SUPERMARKET property investment in Newton Mearns has been sold for £12.1 million to a UK investor by Northern Bank Pension Trust, which is managed by Danske Bank.

READ MORE: Ian McConnell: Juncker gets to heart of Brexit as May draws tortuous football analogy

Savills, which acted for the vendor, noted the unit is let to Waitrose for a further 12 years and generates a rent of £714,733 per annum. It said the unit had “formed the catalyst for the wider development known as Greenlaw Village”.

Stuart Orr, of Savills, said: “[It] is a compelling investment given the demographics of the catchment, which is set to significantly grow with a further 3,000 family homes being built.”

READ MORE: Ian McConnell: Paris metro poster for slapstick British farce evokes Brexit metaphor