Property bought and sold
RBS provides £30m boost for retail fund
Launched in the summer of 2015, the Hunter UK Retail Trust invests in well-located retail assets in thriving town centres.
It has acquired and sold 29/31 Frederick Street, Edinburgh in a deal worth £7.25 million. The two units, which were sold to a private investor, incorporate 8,891 sq. ft. of space and were let to Mitchell & Butlers, which opened its first Miller & Carter steak restaurant on the premises.
The Hunter UK Retail Unit Trust currently comprises 14 commercial retail assets, with a combined purchase price of £78 million. The fund’s unit holders comprises major UK institutions.
Mark Hunter, managing director of Hunter REIM, said: “The funding from Royal Bank of Scotland will allow us to further expand our UK Retail Unit Trust portfolio, and build on the fantastic momentum we have already achieved over the last three years.
“We remain committed to investing in the high street and believe that Scotland offers superb investment opportunities in particular pockets.”
Martin McCourt, relationship manager at Royal Bank of Scotland Real Estate Finance, said: “Hunter has an exciting investment strategy to build a UK-wide retail portfolio, and Royal Bank of Scotland is proud to have supported the fund.
“Hunter’s recent deals in Edinburgh, and its ongoing commitment to growth, are encouraging to see. We wish the team continued success.”