Buccleuch Property revs up with purchase of Edinburgh showroom
The firm - which represents the commercial property interests of the Duke of Buccleuch - has snapped up the site at 22 Seafield Road for £2.1 million, reflecting a net initial yield of about 7.15 per cent. The asset comprises 20,000 square feet of showroom and a repair workshop, with parking for about 100 vehicles across the 1.15 acre site.
Philip Eves, investment director at Buccleuch Property, said the deal complements its ownership in the area at West Telferton.
“We believe this is a strong location with a very well established motor trade, enabling Macklin Motors to service a growing population within the catchment area. We continue to seek similar investment opportunities,” he added.
Buccleuch Property - which has a market exposure of about £250m through a UK wide investment portfolio and a commercial development pipeline in excess of 2 million sq ft - was advised by Alan Herriot of Ryden on the purchase. MWM Property Consultants acted on behalf of the vendor.