Entrepreneur Shaf Rasul’s property investment firm SRA Ventures has secured tenants for two warehouse sites it recently bought in a £725,000 deal.
The warehouses, on Edinburgh’s Sighthill Industrial Estate, were acquired from Stirling-based steel stockholders Alexander (Scotland) & Co.
SRA has now agreed pre-let terms for one of the sites with Edinburgh-based oriental food wholesaler Crystal S & Co in a 15-year deal.
Crystal S, which has an annual turnover of £4 million, plans to relocate from its current base nearby and open a wholesale distribution cash and carry at the new site once a refurbishment programme is complete. The other property has been let to Alexander (Scotland) & Co under a five-year deal.
Rasul said: “I was pleased to snap up these excellent, versatile and well-positioned properties in the heart of Edinburgh where demand from large-scale users remains high.
“It was no surprise to me that tenants were then quickly secured for such prime sites, generating value on all sides.”
SRA Ventures owns and manages a portfolio of industrial, retail, commercial and mixed-use properties. Earlier this month it sold a 27,000 sq ft warehouse facility on the estate to Kangaroo Self Storage for £1.6m.