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blair

Dec 04 2018
0

Crown Street Retail Park, Glasgow

By | Development, Projects
PURCHASE Purchased in April 2017 by Ediston with Clydebuilt LP on an unconditional basis. ACHIEVEMENTS Planning permission was achieved on 16th March 2018 for a convenience led shopping park extending to 120,500 sq ft and for 388 apartments on adjoining land in August 2019. Construction work commenced on the shopping park in December 2018. Practical completion was achieved on 30th January 2020 – All construction works completed on budget of £16million and ahead of programme. Pre-letting deals were agreed with Aldi, Food Warehouse, B&M, Costa, Burger King, JD Gyms, Greggs, Card Factory & Indigo Sun. Aldi, B&M, Food Warehouse, Greggs, Burger King and Costa opened for trading in June 2020. Achieved significant regeneration through the creation of construction and retail
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Dec 01 2018
0

Plymouth Gateway Retail Park, Marshmills, Plymouth

By | Development, Projects
The property was acquired off market with the benefit of an existing planning consent for retail and leisure development. PURCHASE The site was purchased for £6.1m in February 2016. ACHIEVEMENTS Agreements for Lease have exchanged on all units to Wren, Sofology, Tapi, Mothercare, KFC and Costa. Planning has been amended to intensify the coverage onsite. The development will commence in October 2017.
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Nov 30 2018
0

Heathfield Retail Park, Ayr

By | Asset Management, Investment, Projects | No Comments
It was bought for its large land coverage and development, and asset management potential. Since acquisition, the retail park has been comprehensively refurbished to include new frontages, carpark resurfacing and common parts. We have created over 45,000 sq. ft. of new retail and leisure accommodation which has been prelet to M&S, Tapi, Maplin, Costa and Greggs as well as new lettings through asset management initiatives to DFS, Oak Furniture Land and Poundworld. PURCHASE Acquired in 2011 for £31.8m, projected end value £54m. ACHIEVEMENTS Acquired investment at a competitive price in 2011. Secured Food Retail consent for 35,000 sq. ft. on surplus land. Redeveloped and redesigned the main car park to incorporate additional Retail Units which were let to Maplin, Costa
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Nov 26 2018
0

Auldhouse Retail Park, Glasgow

By | Asset Management, Projects
PURCHASE Purchased in May 2017 by Ediston with Europa Capital for £20.35m, reflecting a net initial yield of 7.00%. ACHIEVEMENTS New letting agreed with Costa Coffee for a new-build unit of 1,800 sq ft. Immediate improvement of car parking and landscape management to improve visibility and car park circulation. Proposed new-build unit of 11,000 sq ft under offer to Iceland, trading as The Food Warehouse. The retail park is currently fully occupied. Ongoing discussions with a number of occupiers in respect of re-gearing leases, increasing rents and securing longer term income streams. Planning strategy to deliver consent for the proposed new units and to consolidate existing planning consents across the Park as a whole.
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Nov 20 2018
0

Clwyd Retail Park, Rhyl

By | Investment, Projects
Detailed planning consent was obtained for the construction of a new 8,000 sq. ft. unit.  Construction was started on a speculative basis as we were confident of identifying a tenant prior to completion.  Shortly after building work commenced, Iceland agreed to sign a 10-year lease, which completed in May 2018. PURCHASE The asset was acquired in November 2014 for £15.1m reflecting a net yield of 6.85%. ACHIEVEMENTS Achieved planning consent for an 8,000 sq. ft. unit and let it to Iceland on a 10-year lease.
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Nov 19 2018
0

Plas Coch Retail Park, Wrexham

By | Investment, Projects
The park is let to DW Sports, DSG (Curry’s/PC World format), Sports Direct, TK Maxx, Boots, Pets at Home and City Centre Restaurants (Frankie & Benny’s). The park adjoins a large Sainsbury’s food store, Aldi, Homebase and Argos. PURCHASE The park was acquired by Ediston in December 2015 for £22.45m, reflecting a net initial yield of 7.35%. ACHIEVEMENTS Pre-let to TK Maxx prior to purchase which opened in May 2016. Obtained planning consent for a drive-thru coffee unit and secured Costa Coffee as tenant.  Construction commenced in January 2019 and completion is expected in the summer of 2019.
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Nov 18 2018
0

Abbey Retail Park, Daventry

By | Asset Management, Projects
Tenants at the park include national retailers such as Homebase, Pets at Home, Halfords and B&M. PURCHASE Purchased in June 2015 by Ediston on behalf of the Ediston Property Investment Company for £11.9m, reflecting a net initial yield of 5.74%, this price reflected a two year rent, rates and service charge guarantee for two vacant units, which are now let. ACHIEVEMENTS The two vacant units were let to B&M Retail Limited, following the execution of a pro-active asset management initiative which involved negotiating two lease surrenders, a tenant relocation, a lease, an agreement for lease and a construction contract. B&M signed a 10 year lease over 17,610 sq.ft.
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