LISMORE has advised abrdn on the £13.965m sale of South Gyle Trade Park, in Edinburgh to Rossco Properties (Edinburgh) Ltd.
The sale generated very positive interest and the price achieved highlights positive market sentiment for prime multi-let industrial and trade park assets.
Set on a site of 12.31 acres, within Edinburgh’s premier industrial location, the multi-let estate is split into four distinct components, with an overall floor area of 139,650 sq ft. Comprising eighteen terraced and solus trade park units, three light industrial units and a single office building, the park also fulfils a “last-mile” function, given its strategic location and excellent connectivity.
Commenting on the sale, Colin Finlayson, director of Lismore said:
“Unbroken prime industrial assets such as this in Edinburgh are rare and the sale generated competitive bidding from a wide range of investors. The sale price achieved highlights positive market sentiment for prime multi-let industrial and trade park assets.”
As spokesperson for Rossco added: “Rossco already has a substantial property investment portfolio, so this asset represents both an income and capital growth play in the Central Belt’s prime industrial, distribution and trade park market. We are actively hunting for similar suitable opportunities.”
The park has an excellent and diverse mix of tenants, with good covenants, including Network Rail, Thistle Timber & Building Supplies, Wolseley, D&G Autocare, Geo Amey, Martin Plant Hire, Dofos and CityFibre.
South Gyle and its surrounding area comprise a mix of uses, including trade, light industrial, distribution, business, retail, leisure and residential. Nearby occupiers include UPS, Royal Mail, Halfords, Speedy Services, Virgin Media, Lloyds Banking Group, and Tesco Bank, with Edinburgh Park nearby. South Gyle Trade Park is situated both north and south of South Gyle Crescent, the principal arterial route through South Gyle Industrial Estate, which is accessed direct off Edinburgh’s bypass.
Lismore Real Estate Advisors represented abrdn, whilst Rossco Properties was self-represented.
