Buccleuch Property continues to strengthen its industrial portfolio with the recent purchase of West Telferton industrial estate in Edinburgh for £2.5m, representing an initial yield of 7.2%.
The leading property investment and development company acquired the 3.27 acre site from IPIF, which consists of 11 units totalling 29,061 sq ft, across six terraces and two stand-alone buildings.
The multi-let industrial park has excellent transport links with easy access across the city and the central belt of Scotland, as well as the A1 down to England. The units vary in size from approximately 1,900 sq ft – 4,000 sq ft with only one void on the estate. Current occupiers include Hermitage Garage, Style Flooring Edinburgh and Richard Wylie Ltd.
Phil Eves, Director at Buccleuch Property, said: “This new acquisition further enhances our presence in Edinburgh, delivering a well located industrial estate within the city bypass. We intend to work closely with existing tenants to improve the current environment and their ability to serve the East side of the capital and its surrounding area.
“There is strong demand for this type of industrial accommodation and we continue to seek new investment and development opportunities of this type, across Scotland and the rest of the UK.”
Buccleuch Property was advised by Ryden.