Recent Acquisitions

The following illustrate the type of property we target, the high level of income generation and scope for capital enhancement through active management.

Birkenshaw Retail Park, Uddingston

The property comprises 3 blocks of retail warehouses that provide 6 units totaling c65,000 sq ft on a well established, busy retail park outside Glasgow.  The holding has been assembled through 2 purchases and since then vacant space has been let to a national covenant and lease expiries extended and rent reviews carried out.   The asset continues to be managed for its significant rental and capital growth potential and produces a high income yield, comfortably in the double digits.  There are now 6 tenants on leases with unexpired terms of 3-10 years.  A fixed rate bank loan was also negotiated and secured which should enhance overall returns.

Strathclyde Business Park, Glasgow

The property comprises 3 modern industrial units that were let to Scottish Enterprise on a short lease.  Terms were agreed to purchase the property at a price reflecting the short unexpired lease term and since then the manager has managed to grant 3 new leases over the whole propety for 10 - 15 years with upwards only rent reviews, effective from the expiry of the Scottish Enterprise lease.  After rental incentives expire the rental yield will be over 13%.  The manager also secured a bank loan at the time of purchase from Santander.  This loan is at a fixed low rate of interest and is expected to enhance the return on equity and enables the investment to generate a high level of income return of over 15% pa net of all management charges.

Excelsior Park, Wishaw

Following an initial investment in 2 modern industrial units let to Siemens plc and Astute Electronics a substantial, diversified holding has been assembled comprising a further 9 units that total c110,000 sq ft in a range of unit sizes of 5,000 sq ft to 25,000 sq ft let to tenants that now also include Howden, BSS, Travis Perkins, Wurth UK with a balanced lease expiry profile.  The current rent roll is circa £500,000 per annum with scope to significantly increase this to circa £600,000 per annum by reletting recently refurbished space.  The manager secured a bank loan from Santander against the property at a low interest rate which is expected to enhance returns.  Current income returns are approaching 20% on equity invested (net of all management charges) and the asset is well positioned for capital growth.