Category

Development

Gallagher Shopping Park, Port Glasgow, Strathclyde

By | Development, Projects

The investment comprises an existing B&Q Warehouse and Costa Drive-Thru and 16 acres of development land with consent for up to 200,000 sq. ft. of open class 1 retail accommodation. It is situated adjacent to a 130,000 sq. ft. Tesco Extra. PURCHASE Ediston acquired the asset in August 2015 for £15m. ACHIEVEMENTS This is one of the largest speculative retail warehouse developments undertaken in Scotland in the last 8 years. The site now has town centre allocation. This is a major regeneration project and a testament to the ethos of the Clydebuilt LP fund to create regeneration, jobs and opportunity through the development of stalled or failing projects. All construction works completed on programme and on budget. Further leases completed…

Read More

Crown Street Retail Park, Glasgow

By | Development, Projects

PURCHASE Purchased in April 2017 by Ediston with Clydebuilt LLP on an unconditional basis. ACHIEVEMENTS Planning has been submitted for a residential development incorporating 350 units and also a new retail park accommodating Class 1 and Class 3 uses and extending to 120,500 sq ft. Pre-lets agreed with Aldi, Iceland, B&M, Costa and Burger King. Development expected to commence on site in May 2018.

Read More

Shawlands Shopping Centre, Shawlands, Glasgow

By | Asset Management, Development, Investment, Projects

The property benefits from two retail car parks and a basement car park under the office building providing up to 300 car park spaces in total. The site area totals approximately 5.75 acres. PURCHASE On behalf of the Clydebuilt Limited Partnership, Ediston acquired Shawlands Shopping Centre in February 2016 for a price of £6.8m reflecting a net initial yield of 10.47%. ACHIEVEMENTS Undertaken several short term lets and lease regears to stabilise income until wider redevelopment can be considered. Completed a feasibility study with the design team to assess redevelopment and other “value add” options.

Read More

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.

Read More

Pallion Retail Park, Sunderland

By | Asset Management, Development, Investment, Projects

The park was acquired from a UK institution and offers active management opportunities, including asset management and development angles. PURCHASE The property was acquired in January 2014 for £18.9m reflecting a net yield of 7.29%. ACHIEVEMENTS Obtained planning consent for the reconfiguration and extension of the retail terrace, and five kiosks to be constructed on the car park. The new planning consent now gives this element of the park open class A1 use. Agreements concluded to downsize an existing tenant who will enter into a new 15 year lease, and let the remaining sub-divided space to a new tenant. Development works completed to sub-divide existing 50,000 sq. ft. unit, refurbish external facades with new cladding and glazed shopfronts, and construct new…

Read More

Wigmore Place, Wigmore Lane, Luton

By | Development, Projects

There are 2 occupiers, who occupy the majority of the accommodation, Tui and First Port. PURCHASE Purchased by Ediston for Kames Capital in May 2014 at a price of £15.60 million, reflecting a net initial yield of 9.96% and a reversionary yield of 10.81%. ACHIEVEMENTS Completed a major refurbishment of the lifts, common areas and central plant across the complex. On the back of the completion of the common works, restructuring of the Tui leases to extend their occupation within Wigmore House and Marlborough Houses and within Eaton House following refurbishment of the 1st and 2nd Floors.

Read More

Jarman Square, Hemel Hempstead

By | Development, Partnership opportunities, Projects

Tenants include The Restaurant Group (Chiquito, Frankie and Benny’s and Coast to Coast, Nando’s, Subway, Greene King (Hungry Horse) and The Gym Group. The development also comprises an ice rink and an Empire Cinema which has recently been upgraded to provide an iMax offer. PURCHASE The property was purchased by Ediston on behalf of Tesco Pension Fund for £8.5m in February 2014. ACHIEVEMENTS Acquired the former Leisure World property from Capital and Regional off market for £8.5m. Secured 9 pre-lets, including 3 to The Restaurant Group. Others include the Gym Group, Greene King, Subway, Nando’s, Planet Ice and Empire Cinemas. Completed the complex refurbishment, reconfiguration and extension of the first phase in January 2015, and the Ice Rink refurbishment in…

Read More