Shops acquired

Corstorphine Retail Park sold in £16.3m deal

Corstorphine Retail Park: offering good value

Lothian Pension Fund has acquired Corstorphine Retail Park in west Edinburgh from Hunter Real Estate Investment Management for £16.265 million.

The park, off the Glasgow Road, has recently undergone improvement works with new lettings secured to Lidl and the Gym Group, which have occupied the unit formerly occupied by PC World.

Further lease re-gears (renegotiated terms) to McDonalds, Pets at Home and Cancer Research provide an average lease length in excess of 18 years.

Lothian Pension Fund was advised by Lismore Real Estate Advisors, while Hunter was advised by Sheridan Keane.

Commenting on the retail warehousing sector, Chris Macfarlane, director at Lismore said: “Towards the end of 2022 and into this year we have seen retail warehousing yields soften, but those parks anchored by food stores and also with an element of drive-thru, located in strong urban catchments, remain robust and still offer good value.”

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