Agent secures new contracts
Ryden in airport deal and £1m unit sale
Ryden has secured a three-year contract with Edinburgh Airport and sold an industrial unit for a private investor.
At the airport it will provide a property database management service to manage leases, legal documentation and billing support for a portfolio of 170 leases.
This is the latest appointment Ryden has secured with the Airport, having previously won contracts to provide a property asset valuation service and a reinstatement cost assessment for the airport’s portfolio.
Separately, Ryden has sold a multi-let industrial property at 52-74 Brand Street in Glasgow for £975,000. The purchase price, on behalf of a private investor, represents a net initial yield of 9.25%.
The 12,000 sq ft industrial property is spread across two blocks and following a recent letting to Scottish community justice organisation Sacro, is fully let to five tenants and produces an annual income of £95,000 per annum. Additional occupiers include Visual Impact and Artem.
Derek Archer, associate at Ryden, said: “We acquired the investment for the seller eight years ago and since then have advised on the letting of the estate. The recent deal with Sacro triggered the off-market sale and we were pleased to secure the sale.”
Ryden has been retained as letting agent at 52-74 Brand Street and will also manage the estate.