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retail park Archives - Ediston

May 05 2020
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Hermiston Gait Retail Park, Edinburgh

By | Projects
The asset benefits from an open class 1 retail consent and there are a number of vacancies which provide for asset management opportunities as well as lease re-gears and asset management initiatives to undertake. PURCHASE The purchase in February 2020 was our first acquisition with our new Joint Venture partner BauMont Real Estate Capital from Aberdeen Standard Investments for a price in the region of £65 million.
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Mar 17 2020
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BauMont Real Estate Capital acquires a dominant retail park in Edinburgh with partner Ediston Real Estate

By | News
The dominant retail park is located to the west of the city centre and occupies a highly prominent position at Junction 1 of the M8 and Edinburgh’s City By-Pass/A1. The property totals 306,000 sq. ft. of retail warehouse accommodation across 13 units and benefits from predominantly Open Class 1 consent. The park is anchored by Tesco and B&Q with other national retailers including TK Maxx, Decathlon, Wren Kitchens and Costa. Natalie Harrison, U.K. Investment Director at BauMont, said: “The park benefits from many appealing attributes including the relative defensiveness of the majority of tenants to internet shopping, significant residential development in the area planned over the next ten years and opportunities to improve the tenant line up with the letting
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Jan 31 2020
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Currys commits to North Wales retail parks

By | News
At Clwyd Retail Park in Rhyl, Currys has signed a five-year lease extension on its 10,020 sq. ft. unit. The lease was due to end in March 2020 but will now expire in 2025. This lease extension follows recent lease restructures completed on the park with Pets at Home and B&Q plc. In addition, at Plas Coch Retail Park in Wrexham, Currys has agreed to restructure its lease to give a 10-year term certain. The lease on the 22,182 sq. ft. unit was due to expire in June 2022 but Currys has signed a lease which will keep it on the park until 2029. These transactions underscore the tenant’s commitment to the retail parks and prove that there is still
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Jan 31 2020
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Break notice served on Arcadia at Widnes Shopping Park

By | News
Following Arcadia’s CVA last year, Ediston, on behalf of the Ediston Property Investment Company plc has exercised its option to break the lease to Arcadia. Ediston considered that the rent set under the CVA was below market, so took the opportunity to exercise the break clause. The 13,202 sq. ft. unit will be split in two, and 6,792 sq. ft. has been pre-let to JD Sports and there is good tenant interest in the remaining 6,006 sq. ft. unit.
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Jan 30 2020
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Haddington planning consent secured

By | News
The development is 97% pre-let to Aldi, The Food Warehouse, Costa Coffee, Home Bargains and Euro Garages. One unit of 1,500 sq. ft. remains available to let, in which there is positive tenant interest. Once fully let and constructed, the asset will have an average unexpired lease term in excess of 15 years and will generate an annual rent of £875,000. Based on tendered build costs, the project should generate a return on cost of capital employed of around 8.0% per annum. The fact the development is significantly pre-let to national retailers proves there is still demand for well-located retail parks let off affordable rents.
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Sep 20 2019
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Planning consent secured at Crown Street

By | News
Crown Street is a brownfield site bounded by Cathcart Road, Caledonia Road and Lawmoor Street and Ediston are currently developing a new Retail Park on the southern part of the site, next door to the new residential development. The residential development will comprise five blocks of apartments with high quality external materials and finishes, in a contemporary architectural style. A mix of 1,2 and 3 bedroom apartments will be provided all with internal living spaces to reflect a modern lifestyle with large open plan areas offering superb views of the city from generous window openings and balcony spaces, particularly from upper levels. The development will also incorporate large areas of amenity space and high quality landscaping, gardens and planting throughout.
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Sep 03 2019
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Superdrug opens at Port Glasgow

By | News
Coates & Co and Savills acted for Clydebuilt LP and Culverwell represented the tenant. Alastair Dickie commented “This is another key national tenant to add to the impressive tenant line up in a park and location which has seen significant regeneration and improvement created by the Clydebuilt LP Fund”.
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Jul 18 2019
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Works progressing at Crown Street

By | News
Construction works at Ediston and Clydebuilt’s Crown Street Retail Park continue to move at pace. The contractor, Heron Brothers is wasting no time in progressing the envelope of the units and the concrete floor pours have been going well, with summer temperatures helping the drying / curing process. The target is now to get the buildings wind and watertight by the end of July allowing internal works to follow-on. Planned completion is still on target for Q1 2020.
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Feb 26 2019
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New letting in Barnsley East Retail Park

By | News
Ediston, on behalf of its listed REIT, the Ediston Property Investment Company plc, has signed a lease on unit B, Barnsley East Retail Park, with B&M Retail Limited (‘B&M’).  The new letting has increased B&M’s occupation on the park by 40%. B&M occupy the adjoining unit A which extends to c. 25,000 sq. ft. on a lease expiring in September 2027.  Unit B, which extends to c. 10,000 sq. ft., was previously occupied by Carpetright, who completed a Company Voluntary Arrangement (CVA) in 2018.  Under the terms of the CVA Ediston was able to secure vacant possession of the unit to facilitate the new letting. B&M has signed a lease on unit B and will trade from both units as
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Jan 10 2019
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Widnes Shopping Park, Widnes

By | Projects
There are significant development opportunities to accommodate tenant demand, as well as lease re-gears and asset management initiatives to undertake. PURCHASE The Shopping Park was acquired by EPIC REIT from Stadium Group as part of a 4-property portfolio in December 2017, for a portfolio price reflecting approximately £144 million.
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