Shopping mall deal
Cameron Toll sold in £38 million deal to Franklin Templeton
It has an estimated lettable area of 270,000 sq ft with 42 retail units, a gym club, two drive-through units, a petrol station, and 1,050 surface car parking spaces. Tenants at the southside mall include blue chip retailers Aldi, Argos, Boots, Sainsbury’s, Thorntons and Waterstones. The acquisition was through Franklin Templeton Investments and represents an initial yield of around 8%.
Previous owner Oaktree Capital, in partnership with Hunter Asset Management, had acquired Cameron Toll for £46m five years ago. Hunter is expected to continue managing the centre.
RBS said in a statement: “We are delighted to be able to support Franklin Real Assets Advisors, on behalf of their value-add clients, and Hunter REIM Limited.
“Cameron Toll is a well-established, very popular centre with high footfall and we believe the business plan for its future will further improve and enhance the leisure and shopping experience for the people of south Edinburgh.”