Quartermile developer sells retail parade in £3m deal
Published Date:
09 May 2008
By Scott Reid
GLADEDALE, the property group, has sold the retail parade at its sprawling Quartermile joint venture development in Edinburgh for some £3 million, The Scotsman can reveal.
The newly-constructed development, which is let to Sainsbury's, Starbucks and Swedish bakery Peter's Yard, has been acquired by an unnamed private investor, with the deal attracting a net initial yield of 5.3 per cent.
Commercial property adviser Ryden, representing the buyer, described it as "one of the most significant retail property investment deals in Scotland this year". John Morton of Ryden said: "Quartermile has proved popular and provides an excellent tenant mix for the neighbouring residential and office schemes.
"The successful acquisition is a result of spotting an off-market opportunity and (is] a strong deal in a challenging market."
Gladedale was represented by CEBR.
The full article contains 141 words and appears in The Scotsman newspaper.
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Last Updated:
08 May 2008 9:08 PM
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Source:
The Scotsman
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Location:
Edinburgh
