Cameron Toll shopping centre sold in deal backed by RBS

Edinburgh’s Cameron Toll shopping centre has changed hands in a deal worth more than £38 million thanks to backing from Royal Bank of Scotland.

The acquisition of Cameron Toll had been delayed earlier this year due to funding issues. Picture: Scott Louden

Franklin Templeton Investments has acquired the shopping mall, home to the likes of Aldi, Argos, Boots and Sainsbury’s, with the help of a debt facility provided by RBS, according to trade publication React News.

The deal, which has been in the pipeline for some time, was reported to have fallen through earlier this year due to issues with securing a suitable debt package.

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The asset represents an initial yield of around 8 per cent.

Previous owner Oaktree Capital, in partnership with Hunter Asset Management, had acquired Cameron Toll for £46m five years ago.

It is thought that Hunter will continue to manage the centre, which is located in a suburb in the south of the capital.

RBS said: “Cameron Toll is a well-established, very popular centre with high footfall and we believe the business plan for its future will further improve and enhance the leisure and shopping experience for the people of south Edinburgh.”

The lender added that the centre has an estimated lettable area of 270,000 square feet and 1,050 surface car parking spaces.