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Ediston

Trio of EPIC lease transactions

By | News
In a turbulent retail market, which is evolving in response to the changing needs of retailers, Ediston continues to do deals, completing one new letting and two lease extensions.  These deals take the number of deals completed in EPIC’s retail warehouse portfolio during the past 12 months to 21. At Clwyd Retail Park in Rhyl, anchor tenant B&Q committed to the park by signing a new 10-year lease, which will expire in 2029.  B&Q will continue to pay £508,644 per annum (£12.25 per sq. ft.). The second lease extension was at Barnsley East Retail Park.  Dunelm, who occupies 25,370 sq. ft. has also signed a new 10-year lease, at the passing rent of £213,600 per annum (£8.42 per sq. ft.).
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Planning consent secured at Crown Street

By | News
Crown Street is a brownfield site bounded by Cathcart Road, Caledonia Road and Lawmoor Street and Ediston are currently developing a new Retail Park on the southern part of the site, next door to the new residential development. The residential development will comprise five blocks of apartments with high quality external materials and finishes, in a contemporary architectural style. A mix of 1,2 and 3 bedroom apartments will be provided all with internal living spaces to reflect a modern lifestyle with large open plan areas offering superb views of the city from generous window openings and balcony spaces, particularly from upper levels. The development will also incorporate large areas of amenity space and high quality landscaping, gardens and planting throughout.
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Ediston sells East Kilbride town centre site to Lidl

By | News
The store opened in August 2019 and Gordon Rafferty, Lidl GB’s regional head of property said “we would like to thank all those who have played a huge part in bringing this new Lidl store to East Kilbride. It is great for us to be able to create more jobs and investment opportunities in the area and we can’t wait to start serving our multi-award winning products to the local community”.
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Superdrug opens at Port Glasgow

By | News
Coates & Co and Savills acted for Clydebuilt LP and Culverwell represented the tenant. Alastair Dickie commented “This is another key national tenant to add to the impressive tenant line up in a park and location which has seen significant regeneration and improvement created by the Clydebuilt LP Fund”.
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Knotty Ash Sale

By | News
Ediston on behalf of the Ediston Property Investment Company (EPIC) has completed the sale of Knotty Ash, Liverpool, a leisure unit let to Mecca Bingo Limited until September 2022. The sale price was £2,915,000 which is in line with the 30 June 2019 valuation. Due to confidentiality Ediston is unable to disclose who the purchaser is. Finlay Miller, Investment Manager at Ediston Properties Limited, said “The lot size is well below the average lot size of EPIC. We believe the sale proceeds can be reinvested in a way which is value accretive for EPIC’s investors, either by carrying out asset management on existing properties or acquiring a new property in line with the preferred lot size and investment strategy of
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B&Q commits to Rhyl until September 2029

By | News
Despite the negative sentiment which surrounds the retail sector, Ediston continues to do deals in the retail warehouse sector. In June, acting on behalf of our listed REIT, the Ediston Property Investment Company (EPIC), we completed a lease extension with B&Q plc at Clwyd Retail Park in Rhyl. B&Q is the anchor tenant on the park and occupies a unit of 41,520 sq. ft. The DIY retailer has underscored its commitment to the location by signing a lease extension which will expire in June 2029. B&Q will continue to pay £508,644 per annum and will receive a 13-month rent free period to facilitate the deal. This success follows transactions completed earlier in the year for EPIC at its retail warehouse
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Works progressing at Crown Street

By | News
Construction works at Ediston and Clydebuilt’s Crown Street Retail Park continue to move at pace. The contractor, Heron Brothers is wasting no time in progressing the envelope of the units and the concrete floor pours have been going well, with summer temperatures helping the drying / curing process. The target is now to get the buildings wind and watertight by the end of July allowing internal works to follow-on. Planned completion is still on target for Q1 2020.
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Magic touch

By | News
In an attempt to keep the old joints moving, Ross McNulty has been playing in the Vialex touch rugby tournament over the summer, held on Wednesdays at Inverleith Park. The weather has been kind and most games played in glorious sunshine. Amazingly (and for the second year in a row) Ross’s team won their league. This year being even more impressive as the team was undefeated. Their key to success is most definitely due to a blend of youth (the youngest player being 12 years old, as seen holding the trophy) and guile (as Ross says the only thing he is good at these days is working the offside line). As you can see from the photo, it’s a very
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Royal seal of approval for Alastair and James

By | News
Following on our previous post on Alastair and James’s charity cycle in August, they were recently invited to meet Princess Anne on Thursday the 4th of July at Holyrood Palace. Princess Anne is the Royal patron to the Leuchie Charity and she wished them both to have the “wind behind their backs” for the trip! They’ll certainly need all the help they can get! Help them have more visibility by sharing this post on your page and you can still donate on the Just Giving page found here: https://www.justgiving.com/campaign/MizMal19 Good luck Al!
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