The property extends to 103,000 sq. ft., plus a garden centre and builders’ yard, with parking for 600 cars, on a site of 4.27 acres. It is let to B&Q plc until December 2022 with a rent review in 2017, and offers a solid income stream for the Company, which can be further improved through asset management and development.
Calum Bruce, Director of Investment at Ediston, the Company’s Investment Adviser, said: “This acquisition provides the Company with good secure income in the retail warehouse sector. We believe it is a property that offers a number of opportunities for us to implement the Ediston style of asset management to enhance its income profile and returns over the coming years.”