Category

Investment

Jun 05 2019
0

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.
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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 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 17 2018
0

Robroyston Retail Park, Glasgow

By | Investment, Partnership opportunities, Projects
At the point of purchase, the property had 2 vacant units and development land for an additional 17,500 sq. ft. of retail space. A new planning application secured consent for a further extension to the retail terrace, comprising a gym and retail unit. Further to which we let the existing vacant unit to Watt Brothers for a department store and prelet the new gym to Pure Gym and new retail unit to Poundworld. The coffee pod was let to Costa. Various other asset management opportunities are currently being explored. PURCHASE The property was acquired for £14.35m and has a current value in the order of £20m. ACHIEVEMENTS Acquisition of asset below market value. Planning Consent granted for the relaxation for
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Nov 15 2018
0

Merchant Square, Merchant City, Glasgow

By | Investment, Projects
Adjacent to the main Merchant Square, and part of the property demise, is a three storey Georgian style building, converted to office use and accessed from Albion Street. The ground floor of this comprises a pub / restaurant unit, which extends into Merchant Square. PURCHASE On behalf of the Clydebuilt Limited Partnership, Ediston acquired Merchant Square in January 2015 for a price of £7.0m reflecting a net initial yield of 8.9%. ACHIEVEMENTS Re-let vacant unit to restaurant operator to provide a fully let property. Created a unit in the basement, which has not been previously occupied, and currently under offer to leisure operator. Commercialising the courtyard space and increasing visibility and marketing of the property to the wider public.
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Nov 14 2018
0

18-26 Candleriggs, Merchant City, Glasgow

By | Investment, Projects
PURCHASE On behalf of the Clydebuilt Limited Partnership, Ediston acquired Merchant Square in January 2015 for a price of £2.4m reflecting a net initial yield of 8.8%. ACHIEVEMENTS Re geared one tenant to increase current passing rent and provide for a stepped rental to the next review. Varied one operator’s lease to provide for a fixed uplift at the August 2016 rent review to increase income to the fund and establish a stronger tone on the parade.
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Nov 13 2018
0

94 – 146 Byres Road, Glasgow

By | Investment, Projects
There will be further asset management opportunities within the block as existing leases approach expiry. PURCHASE On behalf of the Clydebuilt Limited Partnership, Ediston acquired the retail parade at 94 -144 Byres Road in April 2015 for £7.2m, reflecting a net initial yield of 7.54%.  In June 2015, the remaining unit within the parade, 146 Byres Road, was acquired for £1.0m, reflecting a net initial yield of 7.05%.  The total price paid for 94-146 Byres Road was £8.2m, reflecting a net initial yield of 7.47%, after deducting LBTT. ACHIEVEMENTS Two assignments have been agreed to considerably stronger covenants, which adds value to the parade.
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