On behalf of the Hunter UK Retail Unit Trust, Hunter has completed the purchase of 1-17 Glasgow Road, Edinburgh for £11.6m reflecting a yield of 8.45% NIY. The acquisition was completed following the profitable sale of the Trust’s asset in Bristol.
The parade of four shops is let to Currys / PC World, Cancer Research, Pets at Home and McDonalds.
It is an active asset management opportunity and the asset’s Business Plan envisages an increase in the length and security of income, an improvement to the aesthetic of the units resulting in an in-demand investment product on exit. Completion of the first phase of the Business Plan is due to be announced imminently.
Sheridan Property represented Hunter REIM while EYCO represented the vendor.