Saturday, August 17, 2019

Danobe Securities acquires prominent Edinburgh retail assets

Craigentinny Retail Park
Craigentinny Retail Park

Danobe Securities Limited has acquired two prominent retail assets in Edinburgh, thanks to a funding package from Royal Bank of Scotland.

The business has expanded its portfolio of retail assets with the addition of Craigentinny Retail Park and established retail assets on George Street.

The Craigentinny Retail Park is let to Halfords, Archers Sleep Centre, Connection Flooring and Sue Ryder, while the properties acquired on George Street are let to established retailer, Laura Ashley and bar Eastside.

Originally founded by Norman Naftalin in the early 1960s, the multi-generational business is now run by son Bryan, with a portfolio of properties spread throughout the UK across a variety of sectors.

Bryan Naftalin, Director at Danobe Securities, said: “The retail industry has been hitting the headlines for all the wrong reasons of late, but this doesn’t paint the whole picture of the sector. City centres remain particularly popular with consumers looking to mix leisure and retail, while retail parks continue to be convenient and easily accessible for shoppers.”

“These investments show confidence in the sector and the belief that our best-loved brands will find a way to adapt and change to the current retail environment.”

Martin McCourt, relationship manager at Royal Bank of Scotland, said: “We are delighted to have supported Bryan and Danobe Securities with this funding. It is encouraging to see that Edinburgh’s retail sector remains attractive to investors. Tourism continues to pick up across Scotland, particularly in Edinburgh and Glasgow, and Danobe’s investments demonstrate the wider confidence in the country’s city centres.” 

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