Ediston

Ediston has acquired 123-129 Buchanan Street, Glasgow as its latest purchase on behalf of Clydebuilt Limited Partnership for £16m in an “off market” transaction with Abrdn. The purchase price reflects a net initial yield of 7.93%. The property occupies a prominent, 100% prime position on the west side of Buchanan Street, close to its junction with St Vincent Street in the heart of Glasgow City Centre and comprises a substantial, traditional Grade B listed sandstone building arranged over four floors and basement. The core income is secured over three retail units fronting Buchanan Street, let to Hobbs, Tiso and The White Company and a hair salon at first floor let to Fleeson and Robb. There is also office accommodation on

BauMont Real Estate Capital and partner Ediston Real Estate have completed one of the largest retail park transactions in the UK this year, disposing of their interest in Edinburgh’s Hermiston Gait, React News can reveal. US investor Realty Income Corporation is understood to have concluded a deal to take control of the prime Scottish park, according to several market sources, although BauMont and Ediston declined to comment on the identity of the buyer. Swift exit for BauMont and Ediston Pricing details for the sale have not been disclosed, although with the retail park market relatively buoyant sources indicated it would likely be in excess of £80m. It is understood to be one of the largest retail parks to trade in

Plans have been announced for the regeneration of The Shawlands Arcade on Kilmarnock Rd, which is a well-known landmark at the heart of Glasgow’s Southside. Originally built in the 1960s, the Arcade is in need of renovation and its proposed regeneration will create a new, vibrant shopping and leisure experience in the heart of Shawlands and an improved streetscape on Kilmarnock Road. The redevelopment also offers the opportunity to provide new homes in this increasingly popular area. The proposals are being brought forward by the Arcade’s owners, Clydebuilt LP, which is a property investment and development fund co-owned by Strathclyde Pension Fund and Ediston and has a strong track record in delivering successful regeneration projects. Commenting on the plans, Neal

Work is underway to construct Phase 3 of the Devongrange development in Alloa. The construction team re-commenced groundworks in June following easing of lockdown restrictions on construction sites in Scotland and it is expected that our first new homes will be available for customers in January 2021. As part of this phase we will also be delivering a further 24 houses for Kingdom Housing Association. The development is proving to be hugely successful with only 3 properties remaining available for reservation on the first release for Phase 3. Our sales office is open 7 days a week between 10.30 am and 5 pm or phone 0800 458 1523 to book an appointment.

Following the recent update from the Government, we are pleased to announce that our Devongrange sales office and show home have now reopened. You will notice some changes to how we can interact with our customers to ensure the health and safety of our team and clients. Visits to our sales centres will be by appointment only during this time, however, our Sales Advisors will remain available by phone and email to answer any of your questions. Our sales office is open 7 days a week between 10.30 am and 5 pm or phone 0800 458 1523 to book an appointment. Don’t miss out on the new sales releases featuring brand new house types.

In accordance with Scottish Government guidelines, we are delighted that we have re-opened our site at Coatbridge B&Q for the delivery of the Costa and Burger King drive-thrus.

Despite the current uncertainty in our markets arising from the coronavirus, Ediston continue to try to stay close to our tenants, engage in dialogue and do deals to keep things moving. On behalf of Ediston Property Investment Company, we are delighted to have just completed a 5 year lease extension with Next on their 10,000 sq ft store at Widnes Shopping Park. This is consistent with our key focus to protect, generate and secure income across all our funds.