An Edinburgh industrial estate described as a ‘prime asset’ has sold for almost £14 million.
South Gyle Trade Park was purchased by Rossco Properties from Lismore Real Estate Advisors (Lismore) on behalf of abrdn.
The park is located on both north and south of South Gyle Crescent and the site comprises 18 terraced and solus trade counter units, three light industrial units and a single office building of 4,172 sq ft.
The site was put on the market in October 2023 for offers in excess of £12.8m – a quoted price which reflected an initial yield of just over seven per cent.
The area is known to comprise a mix of uses, including trade, light industrial, distribution, business, retail, leisure and residential.
South Gyle Trade Park was been sold for almost £14 million
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Several major organisations operate units within the estate including Network Rail, CityFibre, Halfords, Virgin Media, RBS, Lloyds Banking Group and Tesco Bank.
Commenting on the sale, Colin Finlayson, director of Lismore said: “Unbroken prime industrial assets such as this in Edinburgh are rare and the sale generated competitive bidding from a wide range of investors. The sale price achieved highlights positive market sentiment for prime multi-let industrial and trade park assets.”
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A spokesperson for Rossco added: “Rossco already has a substantial property investment portfolio, so this asset represents both an income and capital growth play in the Central Belt’s prime industrial, distribution and trade park market. We are actively hunting for similar suitable opportunities.”
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