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.
