The acquisition follows the purchase of the freehold in TK Maxx’s mega store at 38-48 Argyle Street in July 2014.  The total investment in the properties in this area is now in excess of £23.5m.

Martin Payne, senior fund manager at TH Real Estate, said: "We’ve made a significant commitment to Glasgow and have considerable confidence in the city’s future. This latest acquisition builds on the investment we made in 2014, enhancing the opportunity to tap into Glasgow’s strong retail market."

Andrew Shiells, Director at Lambert Smith Hampton, said: "Glasgow is widely recognised as one of the UK’s most vibrant retail destinations and has good investment fundamentals. This acquisition allows TH Real Estate to realise inherent value by purchasing control of a long leasehold interest and creating additional value by letting out the vacant unit."