4-6 Copthall Avenue, London EC2

By | Development, Projects
The property is located in a quiet central City street which has seen some significant improvement in recent years with the development of an Apex hotel, several office refurbishments and the development of the 290,650 sq. ft. Drapers Gardens, home of Blackrock Investment Management, which is immediately adjacent. FINANCIALS Ediston’s Opportunity Partnership (with Europa) acquired the property for £4.6m Refurbishment costs: £120 per sq. ft. Sale price: £11.33m KEY ACHIEVEMENTS Secured a beneficial dilapidations settlement at expiry from Lloyds bank at circa £40 per sq. ft. Secured planning consent for an increase in floor area by removal of a fire escape and the conversion of the ground floor to retail. Completed the extensive refurbishment on budget and within two weeks
Read More

West Edinburgh Retail Park, Chesser, Edinburgh

By | Development, Partnership opportunities
A 9-acre site west of the City Centre with previous planning permission for over 550 residential units which was unviable. The original funder, RBS, took back control of the land from the defaulting customer. The site was developed in Q2 2015 and handed over to tenants in Q1 2016. The property on completion was let to M&S, Home Bargains, Aldi, Poundworld, Costa, Greggs and Indigo Sun. The development was forward funded by BP Pension Fund and the adjacent residential development is currently onsite being developed by our new venture Ediston Homes Limited. PURCHASE The property was developed in Partnership with West Register Realisations (RBS) and forward sold at an initial yield of 5.75% to BP Pension Fund. ACHIEVEMENTS Embarked on
Read More

Wick Retail Park, Wick

By | Development
The 60,000 sq. ft. retail park was fully let just after Practical Completion and resulted in an economic boost for the town centre. Significant retail spend which had been diverted to Inverness was retained in the town, also providing a boost to other retail and restaurant outlets. FINANCIALS Total development costs: circa £7.5m (inclusive of land, construction and letting) Sale price: £13.1m KEY ACHIEVEMENTS Ediston acquired the site to speculatively develop the retail park. At purchase, however, simultaneously pre-let 50% of the retail space, raised full funding and pre-sold the project in 2005. Let all vacant space at higher than ERV and to a strong line-up of tenants on long leases including Homebase, New Look, Superdrug, Carpetright and Pets at
Read More