The optical properties of wurtzite GaN nanowires containing single Al0:14Ga0:86N/GaN quantum discs of different thickness have been investigated. The dependence of the photoluminescence (PL) transition energy on the quantum disc thickness and the thickness of a lateral AlGaN shell has been simulated in the framework of a three-dimensional effective mass model, accounting for the presence of a lateral AlGaN shell, strain state and the piezoelectric and spontaneous polarization. The predicted transition energies are in good agreement with the statistics realized on more than 40 single nanowire emission spectra and PL spectra of ensembles of nanowires. The emission spectra of the single quantum discs exhibit a Lorentzian shape with a homogeneous line width as low as 3 meV. Finally, we discuss the dependence of the interband transition energy on diameter. [ABSTRACT FROM AUTHOR]