Projects

Asset ManagementProjects
9th June 2019

St. Philips Point, Birmingham

PURCHASE The property was acquired by Ediston for £22.35m in October 2014, reflecting a net initial yield of 7.15%. ACHIEVEMENTS Completed a comprehensive refurbishment of the entrance, reception, common parts, central plant and lifts. Secured new 10 year leases with AXA over the 4th, 5th and 6th floors and a new lease of the 7th and 8th floors. Secured a new lease of the 9th floor to UK Land Developments. Completed lease with American bridal retailer, David’s Bridal, for the entire Cannon Street retail space. Restructured the Weightmans leases on Ground and 3rd floors.
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Asset ManagementProjects
7th June 2019

51 West George Street, Glasgow

PURCHASE Purchased by Ediston in April 2018 for Clydebuilt LP for £10.35 million reflecting a net initial yield of 6.31%. ACHIEVEMENTS The surrounding location, whilst already prime, is improving further with the redevelopment of Queen Street Station and the proposed Meininger Hotel due to be developed by Legal & General immediately next door at 21 West George Street on the site of the former Dale House. With the Clydesdale Bank pending move to Bothwell Exchange there is the potential larger development opportunity incorporating the New Look store and adjoining Redevco holdings.
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Asset ManagementProjects
6th June 2019

Pacific House, 70 Wellington Street, Glasgow

PURCHASE Purchased by Ediston in November 2017 for Clydebuilt LP for £11.35 million reflecting an net initial yield of 7.68%. ACHIEVEMENTS • The building was fully let 6 months after purchase, following the letting of the 3,852 sq ft 4th Floor (front) suite to Levy & McRae at a rent of £71,700 pa.
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Asset ManagementDevelopmentInvestmentProjects
5th June 2019

Shawlands Shopping Centre, Shawlands, Glasgow

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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