Ediston has acquired Springkerse Retail Park on behalf of Ediston Property Investment Company for £21.85 million in an ‘off market’ transaction. The purchase price reflects an initial yield of 9.54%.
Springkerse Retail Park is located in Stirling, 26 miles from Glasgow and 35 miles from Edinburgh. The Stirling Council area has a population of just under 100,000 people, which is forecast to grow at an above average rate and draws on a primary retail catchment of 228,000. The asset is the dominant retail park in Stirling and extends to 162,593 sq. ft. across 12 units. It is let to 10 tenants and produces a passing rent of £2.23 million per annum. The Park is anchored by B&Q, with other tenants
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Britain’s commercial property market can be as much of a soap opera as its residential one.
In recent years it has swung from its post-financial crisis woes, to being firmly on the up, before buckling under the burden of Brexit and fears for the retail sector.
The latest trouble for the sector comes in the world of shopping centres and high streets, where retailers are attempted to negotiate their way out of expensive rents – and in some cases going bust.
Yet, despite the worries, property can remain a profitable place to invest and deliver solid income as part of a portfolio.
Navigating their way through that, investment trusts such as Ediston Property Investment Company, can chunky dividends – 5.5
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