PURCHASE Purchased by Ediston in April 2018 for Clydebuilt LP for £10.35 million reflecting a net initial yield of 6.31%. ACHIEVEMENTS The surrounding location, whilst already prime, is improving further with the redevelopment of Queen Street Station and the proposed Meininger Hotel due to be developed by Legal & General immediately next door at 21 West George Street on the site of the former Dale House. With the Clydesdale Bank pending move to Bothwell Exchange there is the potential larger development opportunity incorporating the New Look store and adjoining Redevco holdings.
One of the first aspects of work that will be completed at our residential development on Crown Street and Cathcart Road will be to complete a programme of Archaeological works on site. The site was once home to the Govan Ironworks, constructed between 1830 and 1840 by the Dixon family, complete with the world’s first ever purpose built blast furnace. In fact there are thought to be the remnants of 6 blast furnaces still situated on the site below the current ground levels – vast structures each with walls more than half a meter thick. A scheme of investigation and recording of these structures has been agreed with West of Scotland Archaeology Services, to be implemented during the early stages…
PURCHASE Purchased by Ediston in November 2017 for Clydebuilt LP for £11.35 million reflecting an net initial yield of 7.68%. ACHIEVEMENTS • The building was fully let 6 months after purchase, following the letting of the 3,852 sq ft 4th Floor (front) suite to Levy & McRae at a rent of £71,700 pa.
Redearth’s vision is to provide every child with an equal chance to succeed, and every community to thrive. Nursery education in Uganda is neither free nor easily accessible and the money raised so far by the team is enough to sponsor one child through three years of nursery education. The team have exceeded their original target by so much, that only a few extra hundred of pounds will be enough to help support two children through three years of nursery education. If you wish to help their cause you can still donate by visiting: https://www.justgiving.com/fundraising/run-for-redearth Please visit Redearth’s website to find out more about the amazing work they do: http://redeartheducation.co.uk/
Ediston Property Investment Company completed the £1m refurbishment of the 14,208 sq ft First Floor of St Philip’s Point in central Birmingham, delivering a stylish combination of tall white ceilings and exposed services and a unique ceiling spine of metal baffles above the primary circulation route. The floor brings a new differential to the Birmingham office market and will be formally launched on 21st May 2019. The space was designed by CDA and KJ Tait, Edinburgh, project managed locally by Savills and the works completed by City Office Interiors.
Ediston recently gifted a variety of loose parts and materials for the garden of Strathdevon Nursery in Dollar. Children from the nursery were invited to visit our Devongrange development and were provided with a guided tour of site and the show homes – the tour proved to be a big hit with the kids and hopefully it will pave the way for budding surveyors, joiners and bricklayers in future years to come! The Marketing Suite at Devongrange is open seven days a week and can be visited between 10.30am and 5pm – drop by and see what we have to offer.
Ediston has now completed the lettings of units 5a, 5b and 5c which extend to a total of 18,868 sq. ft. Iceland Foods Limited has signed a new 10 year lease, on units 5b and 5c which have a total area of 13,672 sq. ft. Iceland will trade the store as a ‘Food Warehouse’. Sue Ryder has signed a 10 year lease with a 5 year tenant break option on unit 5a, which extends to 5,196 sq. ft. Both tenants were granted a short rent-free period of only three months. The retail park was acquired in December 2017. Units 5a, 5b and 5c were vacant, but benefited from a rental guarantee from the previous owner, which was due to expire…
Britain’s commercial property market can be as much of a soap opera as its residential one. In recent years it has swung from its post-financial crisis woes, to being firmly on the up, before buckling under the burden of Brexit and fears for the retail sector. The latest trouble for the sector comes in the world of shopping centres and high streets, where retailers are attempted to negotiate their way out of expensive rents – and in some cases going bust. Yet, despite the worries, property can remain a profitable place to invest and deliver solid income as part of a portfolio. Navigating their way through that, investment trusts such as Ediston Property Investment Company, can chunky dividends – 5.5…
Ediston Homes have completed and handed over the first new homes to customers at our Devongrange development in Sauchie. This marks an important milestone as the first homes to be completed from Ediston’s brand new range of contemporary house designs incorporating high quality specification, functional family layouts and stylish finishing touches. The Marketing Suite at Devongrange is open seven days a week and can be visited between 10.30am and 5pm – drop by and see what we have to offer.
Mark Coughlan has recently joined the residential team in the role of Commercial Director. Mark brings valuable commercial experience to the Ediston residential team having previously worked with the likes of Miller Homes and Robertson Homes, and immediately prior to joining Ediston Mark was employed as Commercial Director with Avant Homes. This is a key appointment in the continued growth of the residential team, assisting Ediston to deliver our current project pipeline ranging from family housing to city centre apartment developments.