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Ediston acquires 123-129 Buchanan Street, Glasgow

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Ediston has acquired 123-129 Buchanan Street, Glasgow as its latest purchase on behalf of Clydebuilt Limited Partnership for £16m in an “off market” transaction with Abrdn. The purchase price reflects a net initial yield of 7.93%. The property occupies a prominent, 100% prime position on the west side of Buchanan Street, close to its junction with St Vincent Street in the heart of Glasgow City Centre and comprises a substantial, traditional Grade B listed sandstone building arranged over four floors and basement. The core income is secured over three retail units fronting Buchanan Street, let to Hobbs, Tiso and The White Company and a hair salon at first floor let to Fleeson and Robb. There is also office accommodation on
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Ediston acquires Springkerse Retail Park, Stirling

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Ediston has acquired Springkerse Retail Park on behalf of Ediston Property Investment Company for £21.85 million in an ‘off market’ transaction. The purchase price reflects an initial yield of 9.54%. Springkerse Retail Park is located in Stirling, 26 miles from Glasgow and 35 miles from Edinburgh. The Stirling Council area has a population of just under 100,000 people, which is forecast to grow at an above average rate and draws on a primary retail catchment of 228,000. The asset is the dominant retail park in Stirling and extends to 162,593 sq. ft. across 12 units. It is let to 10 tenants and produces a passing rent of £2.23 million per annum. The Park is anchored by B&Q, with other tenants
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BauMont and Ediston complete one of 2021’s biggest retail park sales

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BauMont Real Estate Capital and partner Ediston Real Estate have completed one of the largest retail park transactions in the UK this year, disposing of their interest in Edinburgh’s Hermiston Gait, React News can reveal. US investor Realty Income Corporation is understood to have concluded a deal to take control of the prime Scottish park, according to several market sources, although BauMont and Ediston declined to comment on the identity of the buyer. Swift exit for BauMont and Ediston Pricing details for the sale have not been disclosed, although with the retail park market relatively buoyant sources indicated it would likely be in excess of £80m. It is understood to be one of the largest retail parks to trade in
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Shawlands Arcade Regeneration Proposals Unveiled

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Plans have been announced for the regeneration of The Shawlands Arcade on Kilmarnock Rd, which is a well-known landmark at the heart of Glasgow’s Southside. Originally built in the 1960s, the Arcade is in need of renovation and its proposed regeneration will create a new, vibrant shopping and leisure experience in the heart of Shawlands and an improved streetscape on Kilmarnock Road. The redevelopment also offers the opportunity to provide new homes in this increasingly popular area. The proposals are being brought forward by the Arcade’s owners, Clydebuilt LP, which is a property investment and development fund co-owned by Strathclyde Pension Fund and Ediston and has a strong track record in delivering successful regeneration projects. Commenting on the plans, Neal
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Home Bargains Opening – Hermiston Gait

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On behalf of Ediston and BauMont Capital we are delighted to welcome Home Bargains, who open for trade in their new 15,000 sq ft unit at Hermiston Gait Retail Park, Edinburgh on Saturday 20th March. To add further weight to the strength of the line up on the Park and the sector, work starts on 29th March on the extension of the former Mothercare unit where Aldi will lease 19,000 sq ft upon completion of the works at the end of July this year. Joint agents for Ediston and Baumont are Coates and Co and Harvey Spackfield. Link to Article
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Insurance giant takes new 10-year office lease at St Philips Point

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Global insurance provider AXA has completed a new ten-year lease on the newly refurbished 14,208 sq ft first floor at St Philips Point on Temple Row in Birmingham. Landlord Ediston Property Investment Company has recently invested £1m at St Philips Point, refurbishing the first floor. In addition to AXA, a tenant of the building for 15 years, law firm Weightmans and accountants RSM occupy the ten storey 102,000 sq ft building. Savills and Avison Young represented Ediston. Ben Thacker, a director in the national offices team at Savills, said: “AXA undertook a review of their property requirements last year.  A number of alternatives were considered but the business opted to remain at St Philips Point, surrendering part of their space
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Coatbridge Costa & Burger King reach Practical Completion

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On behalf of Ediston Property Investment Company PLC, Ediston is delighted to announce that practical completion has just been achieved on its Costa and Burger King development on the existing B&Q car park at Tennent Street, Coatbridge.  Many thanks to Luddon Construction and the rest of the team: CSQ, CBA, Smith Design, Quattro, KJ Tait, Currie & Brown and Zander Planning for delivering a first class job through testing times where collaboration was key when the job paused during lockdown.
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Ediston win BCO (Scotland) Award

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Ediston are delighted to have won the British Council for Offices (Scotland) Award for Best project up to 1,500 sq m for the fit out of our office at 1 St Andrew Square, Edinburgh. The final product defines Ediston’s culture and was the result of a collaborative design journey between Rodi McLean and Paula Conway of Form Design and the Ediston client team of Neal, Hayley, Neelum, Danny and Andy. Congratulations to the full team including Form Design Consultants, MPACT Group, CBA, KJ Tait and Source Furniture. We can’t wait to get back together in the office as soon as we are able and to have a proper celebration with all those involved!!  
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New houses at Ediston Homes

Phase 3 Construction Underway at Devongrange

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Work is underway to construct Phase 3 of the Devongrange development in Alloa. The construction team re-commenced groundworks in June following easing of lockdown restrictions on construction sites in Scotland and it is expected that our first new homes will be available for customers in January 2021. As part of this phase we will also be delivering a further 24 houses for Kingdom Housing Association. The development is proving to be hugely successful with only 3 properties remaining available for reservation on the first release for Phase 3. Our sales office is open 7 days a week between 10.30 am and 5 pm or phone 0800 458 1523 to book an appointment.
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Our Devongrange Sales Office is now Open

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Following the recent update from the Government, we are pleased to announce that our Devongrange sales office and show home have now reopened. You will notice some changes to how we can interact with our customers to ensure the health and safety of our team and clients. Visits to our sales centres will be by appointment only during this time, however, our Sales Advisors will remain available by phone and email to answer any of your questions. Our sales office is open 7 days a week between 10.30 am and 5 pm or phone 0800 458 1523 to book an appointment. Don’t miss out on the new sales releases featuring brand new house types.
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