The Galbraith investment team have advised their client Cedarwood Asset Management on the sale of 2 Ellismuir Way, Tannochside Park, Glasgow.
Development of the 42,000 sq ft industrial / distribution unit, with high ESG credentials, was completed by Cedarwood earlier this year and the property was subsequently let to OLR Holdings Ltd as the HQ and principal distribution hub for their athleisure brand DFYNE.
The company took a 10-year lease at a rent of £392,000 per annum.
The investment was subsequently marketed and sold to Columbia Threadneedle.
Galbraith acted for the vendor, Cedarwood Asset Management, with legal advice from Morton Fraser MacRoberts. Tribridge represented the purchaser, Columbia Threadneedle.
Jamie Thain, Investment Partner at Galbraith commented: “We are delighted to have completed another sale for our long-standing client Cedarwood Asset Management.
“They created an outstanding product at 2 Ellismuir Way, as demonstrated by the successful letting to DFYNE, an excellent business and one of the UK’s fastest growing companies”.
Tom Bridgman, Managing Director of Tribridge commented:
“We are delighted to have advised Columbia Threadneedle on the purchase of this newly developed unit with high ESG credentials, including an EPC rating of A, 6 EV charging points, PV panels, LED lighting and VRV energy efficient air conditioning.
“The purchase provides secure income to a strong covenant with guaranteed rental performance.”
