Development

The investment comprises an existing B&Q Warehouse and Costa Drive-Thru and 16 acres of development land with consent for up to 200,000 sq. ft. of open class 1 retail accommodation. It is situated adjacent to a 130,000 sq. ft. Tesco Extra. PURCHASE Ediston acquired the asset in August 2015 for £15m. ACHIEVEMENTS This is one of the largest speculative retail warehouse developments undertaken in Scotland in the last 8 years. The site now has town centre allocation. This is a major regeneration project and a testament to the ethos of the Clydebuilt LP fund to create regeneration, jobs and opportunity through the development of stalled or failing projects. All construction works completed on programme and on budget. Further leases completed

PURCHASE Purchased in April 2017 by Ediston with Clydebuilt LP on an unconditional basis. ACHIEVEMENTS Planning permission was achieved on 16th March 2018 for a convenience led shopping park extending to 120,500 sq ft and for 388 apartments on adjoining land in August 2019. Construction work commenced on the shopping park in December 2018. Practical completion was achieved on 30th January 2020 – All construction works completed on budget of £16million and ahead of programme. Pre-letting deals were agreed with Aldi, Food Warehouse, B&M, Costa, Burger King, JD Gyms, Greggs, Card Factory & Indigo Sun. Aldi, B&M, Food Warehouse, Greggs, Burger King and Costa opened for trading in June 2020. Achieved significant regeneration through the creation of construction and retail

The property was acquired off market with the benefit of an existing planning consent for retail and leisure development. PURCHASE The site was purchased for £6.1m in February 2016. ACHIEVEMENTS Agreements for Lease have exchanged on all units to Wren, Sofology, Tapi, Mothercare, KFC and Costa. Planning has been amended to intensify the coverage onsite. The development will commence in October 2017.

There are 2 occupiers, who occupy the majority of the accommodation, Tui and First Port. PURCHASE Purchased by Ediston for Kames Capital in May 2014 at a price of £15.60 million, reflecting a net initial yield of 9.96% and a reversionary yield of 10.81%. ACHIEVEMENTS Completed a major refurbishment of the lifts, common areas and central plant across the complex. On the back of the completion of the common works, restructuring of the Tui leases to extend their occupation within Wigmore House and Marlborough Houses and within Eaton House following refurbishment of the 1st and 2nd Floors.

The property was comprehensively refurbished to Grade A specification in 2013. The refurbishment included double height reception and a new mechanical and electrical services throughout. The building has a BREEAM rating of ‘Very Good’. PURCHASE The property was acquired by Ediston in October 2014 for £19.5m reflecting a net initial yield of 6.58%. ACHIEVEMENTS Secured Babcock Corporate Services Limited on the fourth floor at £29.00 per sq. ft. per annum, a record rent for the property. Sold for £20.5 million, in August 2017.