Units 55 and 57 Fishwives Causeway and Units 1 and 3 West Telferton Industrial Estate, with a combined site area of 2.4 acres, were purchased for a total of £2.1m, representing a net initial yield of 7.25%.
Already firmly established in the area, following the purchase of other elements of West Telferton Industrial Estate last year, Buccleuch Property is investing a significant amount in order to provide high quality industrial properties in Scotland’s capital city.
These units compliment the 3.3 acre industrial estate in West Telferton acquired in October 2017 for £2.5m, representing an initial yield of 7.2%. Consisting of 11 units totalling 29,061 sq ft, the multi-let industrial park encompasses six terraces and two stand-alone buildings.
In a prime location on the east side of Edinburgh, businesses located at West Telferton benefit from excellent access routes into the city centre and close proximity to key motorway routes including A1 and the Edinburgh City Bypass.
Philip Eves, Director at Buccleuch Property, said: “We have seen an increase in occupier demand in this area, and believe West Telferton offers organisations a wealth of opportunities through its location and the high-quality units available to rent.
“Through our recent and historical purchases we are working to further enhance the area, with site improvements and signage development already underway.
“We continue to look for new investment and development opportunities to strengthen our expanding commercial property portfolio across the UK.”
Buccleuch Property was advised by Nick Armstrong of Ryden on the purchases.